The Rule of 70 applies in any growth rate application. Let’s sayyou have $1000 in savings and you have three alternatives forinvesting these funds. How long would it take to double yoursavings in each of these 3 accounts? Show your answers.

• A savings account earning 1.5 % interest per year

• A U.S. Treasury bond mutual fund earning 3.5% interest peryear

• A stock market mutual fund earning 9% interest per year