Ted:
4,000 @ 4.5% interest compounded annually
Alan:
1,000 @ 6% interest compounded annually
Rule of 72: divide 72 by the compound annual interest rate
Ted: 72/4.5% = 16 years
Alan: 72/6% = 12 years
<span>Alan will win. It will take 12 years.</span>
A percent is a number out of 100, so you'd want to multiply the denominator to get 100. In this case, 25 would have to be multiplied by 4 to get 100. To keep the fractions equal to each other, you have to multiply the numerator by the same thing. 2*4=8. Therefore, your fraction would be 8/100 or 8%
Answer:
Step-by-step explanation:
I believe it’s false
That would be 156%. have a great day
