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25 July, 21:38

according to the rule of 72, in about how many year will $80 be worth $40 if the rate of inflation is 3%

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  1. 25 July, 22:00
    0
    The rule of 72 is

    72/rate=time

    72:3=24 years
  2. 25 July, 22:05
    0
    The number of years it will take $80 to be $40 using "the rule of 72" will be 24 years

    Explanation:

    "the rule of 72" is a method used to estimate the number of years it will take to either double or cut in half a capital by dividing '72' by the given interest or inflation rate.

    capital : $80

    half capital : $40

    rate of inflation : 3%

    To calculate N years it took to get $40 = 72/rate of inflation

    = 72/3 = 24 years
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