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Using the rule of 72, approximate the following amounts: (a) If the value of land in an area is increasing 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 5 percent a year, how long will it take for property values to double? (Round your answer to 1 decimal place.)
(b) If you earn 13 percent on your investments, how long will it take for your money to double? (Round your answer to 1 decimal place.)
(c) At an annual interest rate of 3 percent, how long will it take for your savings to double? (Round your answer to 1 decimal place.)
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