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bixtya [17]
3 years ago
5

Investment: Rule of 70

Mathematics
1 answer:
MatroZZZ [7]3 years ago
7 0

Answer:

a) 7 years for the investment to double in value.

b) 10 years for the investment to double in value.

Step-by-step explanation:

The rule of 70% states that, for an investment to double in value, the required time is 70/r, in which r is the annual interest rate, as a percent.

So

(a) r = 10%

It is going to take 70/10 = 7 years for the investment to double in value.

(b) r = 7%

It is going to take 70/7 = 10 years for the investment to double in value.

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umka2103 [35]

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Step-by-step explanation:

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