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sweet [91]
3 years ago
9

Jordan wants to know how long it will take for the money she deposited to double. She has an interest rate of 4 percent. Calcula

te how long it will take her money to double.
Business
2 answers:
Katen [24]3 years ago
8 0

Answer:

18 years

Explanation:

To calculate the time an investment will double in value, simply apply the "rule of 72," a rule used in economics and finance, to analyze the time an investment will double, taking its interest rate into account.

The formula is to divide 72 by the interest rate. The result will be the time (in years) required for the value to be doubled.

So:

If the rate is 4%

Now let's divide 72 by 4%

72/4 = = 18 years

alexdok [17]3 years ago
4 0
<span>4% X 18 (years) = 72.
Therefore, the investment will double in 18 years.</span>
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Answer:

The correct answer is option a.

Explanation:

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As a result, the supply of the commodity will decline. this causes the supply curve to shift to the left further causing an increase in the price of the product.

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3 years ago
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Answer:

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7 0
3 years ago
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Answer:

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3 years ago
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