Suppose that you prefer reading a book you already own to watching tv and that you prefer watching tv to listening to music. if
1 answer:
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Answer:
annual rate of return = 10.67 %
time required for investment double = 9.60 years
Explanation:
given data
investment doubles = 6 year
annual rate = 7.50%
solution
we get here annual rate of return by rule no 72 that is
investment doubles = ........1
put here value
annual rate of return =
annual rate of return = 10.67 %
so time required for investment double by rule 72
time required for double investment =
so time required for investment double = 9.60 years