Question

Assume the initial value of an investment is $1,000 and the growth rate is 10%. Using the Rule of 70, how many years will it take for the initial value to double

Answer 1

about 5.8 years

What is growth rate?

Growth rates are the changes in a particular variable's percentage over a given period of time. Increase rates, for investors, often represent the compounded yearly rate of growth of a company's revenues, earnings, dividends, or even macro terms, such as gross domestic product (GDP) and retail sales. Two popular types of growth rates used for analysis are expected forward-looking and trailing growth rates.

Growth rates are used to calculate the percentage change in a variable over a given year.

In the past, growth rates have been used to analyze economic activity, business management, and investment returns. Growth rates were first employed by biologists to analyze population sizes.

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