Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Rule of 72 is a great way to estimate how your investment will grow over time, if you do not have a calculator/smart phone

The Rule of 72 is a great way to estimate how your investment will grow over time, if you do not have a calculator/smart phone and want to do a quick calculation in your head. If you know the interest rate, the Rule of 72 can tell you approximately how long it will take for your investment to double in value. Simply divide the number 72 by your investments expected rate of return (interest rate). Assuming an expected rate of

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Ascendancy Of Finance

Authors: Joseph Vogl, Simon Garnett

1st Edition

1509509305, 978-1509509300

More Books

Students also viewed these Finance questions

Question

Does the learning strategy support on-the-job learning?

Answered: 1 week ago