Coca-Cola spent $102 million through The Coca-Cola Campaign focusing on water stewardship, healthy and active lifestyles, commun
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Answer:
(a)70 years
(b)23.33 years
(c)8.75 years
Explanation:
According to the Rule of 70, for a given interest rate x, funds double in years.
(a)For a savings account earning 1% interest per year,
The number of years it will take the fund to double= =70 years
(b)For a U.S. Treasury bond mutual fund earning 3% interest per year.
The number of years it will take the fund to double= =23.33 years
(c)For a stock market mutual fund earning 8% interest per year.
The number of years it will take the fund to double= =8.75 years