Question

I collect baseball cards. I do not sell any cards and I let my collection grow. The number of cards in my collection grows at 5% per year. How long will it take for my collection of cards to double in quantity?

Answer 1

Answer: 14.4 years

Explanation:

You can use the Rule of 72 to find out.

The Rule of 72 is a very useful formula that shows the amount of time it would take an amount to double given a certain growth rate.

The formula is:

= 72 / Growth rate in whole numbers

= 72 / 5

= 14.4 years

Approximately 14.4 years