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Question 9 Which of the following statements about calculating the number of years needed to grow an investment to a specific amount of money is
Question 9
Which of the following statements about calculating the number of years needed to grow an investment to a specific amount of money is true?
a. | The lower the interest rate, the shorter the time period needed to achieve the growth. | |
b. | The higher the interest rate, the shorter the time period needed to achieve the growth. | |
c. | The interest rate has nothing to do with the length of the time period needed to achieve the growth. | |
d. | The Rule of 72 is the only way to calculate the time period needed to achieve the growth. |
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