The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors obtain a rough estimate of how many years it will take for the initial investment to duplicate itself. You want to double your initial investment of $5,000. You put your money in a high yield interest-bearing account earning 6% per year. How long will it take to double your money?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. By dividing ...” in 📗 Mathematics 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
You Might be Interested in
A submarine is cruising 8 meters below the surface. The captain orders a dive of another 17 meters. What is the new cruising depth of the submarine in meters?
Answers (1)
Suppose the average client charge per hour for out-ofcourt work bylawyers in the state of Iowa is $125.
Answers (1)
Ellen thinks that if a line has no slope, then it never touches the y-axis. Which line proves that her statement is incorrect? A.) x = 0 B.) y = 0 C.) x = 1 D.) y = 1
Answers (2)
Carlos operates a helicopter. Carlos decides to measure the rotational velocity of the helicopter blades. What would be an appropriate unit for Carlos's purpose? A.) meters/second B.) degrees/square second C.) degrees/second D.) meters/square second
Answers (1)
A rectangle has a height of x and a width of 7x-4 what's the area
Answers (1)
New Questions in Mathematics
A flower bed has the shape of a rectangle 7 yards long and 4 yards wide. what is its area in square feet
Answers (1)
A store buys 77 1 2 pounds of mulch in a large shipment. They divide the mulch up into bags that can each hold 2 1 4 pounds. The store sells one bag of mulch for $2.25. For each part of the question, show your work.
Answers (1)
Which one of these is not like the other 25,60,35,20,22
Answers (1)
Which number is its own opposite
Answers (2)
Simplify 4-6+2x-9x-8
Answers (1)