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Using the Rule of 72, approximate the following amounts. a. If the value of land in an area is increasing 11.5 percent a year, how
Using the Rule of 72, approximate the following amounts. a. If the value of land in an area is increasing 11.5 percent a year, how long will it take for property values to double? (Round your answer to 1 decimal place.) Time period years b. If you earn 11 percent on your investments, how long will it take for your money to double? (Round your answer to 1 decimal place.) Time period years c. At an annual interest rate of 5.5 percent, how long will it take for your savings to double? (Round your answer to 1 decimal place.)
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