Approximately how many years are needed to double a $100 investment when interest rates are 5.00...
Approximately how many years are needed to double a $100 investment when interest rates are 5.00 percent per year? (Round your answer to 2 decimal places.)
Homework Answers
Application of Rule 72
Time Required to Double the Amount = 72 / Interest Rate
= 72/ 5 = 14.40 Years (Answer) (or) 14.25 Years
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Finance Accounting
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