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Nancy just received a graduation gift of $10,000 from her grandparents. She'd like to invest the money, and once it has doubled in value, use
Nancy just received a graduation gift of $10,000 from her grandparents. She'd like to invest the money, and once it has doubled in value, use it for graduate school. She believes that she'll be able to earn a 10% rate of return. What approach(es) can Nancy use to calculate how long it will take her money to double?\ \ Question 4 options:\ \ Find the present value of a lump sum.\ \ \ Find the future value of a lump sum.\ \ \ Solve for the number of payments.\ \ \ Use the Rule of 72.
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