When calculating the number of years needed to grow an investment to a specific amount of money

Multiple Choice

• the lower the interest rate, the shorter the time period needed to achieve the growth.

• the higher the interest rate, the shorter the time period needed to achieve the growth.

• the interest rate has nothing to do with the length of the time period needed to achieve the growth.

• the Rule of 72 is the only way to calculate the time period needed to achieve the growth.