Essay
At an interest rate of 10% and using the Rule of 72, how long will it take to double the value of a lump sum invested today? How long will it take after that until the account grows to four times the initial investment? Given the power of compounding, shouldn't it take less time for the money to double the second time?
Correct Answer:
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It will take 7.2 years to double the ini...View Answer
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Correct Answer:
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