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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is the radius of the circle x^2+6x + y^2 - 12y = 36?
Answers (1)
Let X have a binomial distribution with parametersn = 25and p. Calculate each of the following probabilities using the normal approximation (with the continuity correction) for the casesp = 0.5, 0.6, and 0.
Answers (1)
how many square centimeters will fit inside a box that is 22 centimeters long, 12 centimeters wide and 8 centimeters high?
Answers (1)
Is 3/10 equivalent to 6/30
Answers (1)
Solve by using elimination 3x-2y=1. 8x+3y=2
Answers (1)
New Questions in Mathematics
Round 1.51 to the nearest one
Answers (2)
Whch is bigger 3 km or 5000 m
Answers (1)
Can you guess this mystery author? Clue#1 He was born in England Clue#2 He was in the British Army during World War 1.
Answers (1)
A fishing boat was out to sea for 6 months and traveled a total of 8578 milesin the first month the boat traveled 659 miles how many miles did the fishing boat travel during the remaining 5 momths
Answers (1)
What is 3/4 + (-7/4) ?
Answers (2)