Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the rule of 72 answer the following questions. a. In how many years will it take income to double if it is rising each
Using the rule of 72 answer the following questions. a. In how many years will it take income to double if it is rising each year by 1 percent? 2 percent? 4 percent? b. A countrys income begins at $10,000 and rises to $20,000 in 18 years. What is the approximate annual rate of increase for income?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started