Ask Question
23 July, 05:39

For each growth rate below, use the rule of 70 to calculate how long it will take incomes to double. Instructions: Round your answers to one decimal place. Years for incomes to double a. 1.4 percent b. 3.2 percent c. 4.9 percent d. 6.4 percent e. 7.5 percent

+1
Answers (1)
  1. 23 July, 06:03
    0
    Rule 70 is used to estimate how long it tales a cashflow amount to double.

    The formula is as follows;

    Number of years = 70 / growth rate

    At 1.4% growth rate;

    Number of years = 70 / 1.4 = 50

    At 3.2% growth rate;

    Number of years = 70 / 3.2 = 21.88

    At 4.9% growth rate;

    Number of years = 70 / 4.9 = 14.29

    At 6.4% growth rate;

    Number of years = 70 / 6.4 = 10.94

    At 7.5% growth rate;

    Number of years = 70 / 7.5 = 9.33
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “For each growth rate below, use the rule of 70 to calculate how long it will take incomes to double. Instructions: Round your answers to ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers