Answered: Using the "Rule of 72," about how long…

Using the "Rule of 72," about how long will it take a sum of money to double in value if the annual interest rate is 9 percent?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 9EA: If you invest $12,000 today, how much will you have in (for further Instructions on future value in...

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Which one is correct answer please confirm?

Q4: Using the "Rule of 72," about how long will it take a sum of money to double in value if the annual interest rate is 9 percent?

	a.	8 years
	b.	7 years
	c.	9 years
	d.	10 years

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