Utilize the rule of 70 by showing how long it takes for each $1.00 of income to double in value, given the different growth rate. Annual growth rate.                     Years to Double.       Value after 70 years (approximate) 0%                        never.              $1 1% 2% 3% 4% 5% 6% 7%

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter5: Exponential And Logarithmic Functions
Section5.CR: Chapter Review
Problem 54E
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Utilize the rule of 70 by showing how long it takes for each $1.00 of income to double in value, given the different growth rate.

Annual growth rate.                     Years to

Double.       Value after 70 years (approximate)

0%                        never.              $1

1%

2%

3%

4%

5%

6%

7%

 

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