According to the 72 rule
72/rate=time
72÷9.6=7.5 years
Another way to solve by using the main equation
2300=1150(1+0.096/4)^4t
Solve for t
t=((log(2,300÷1,150)÷log(1+(0.096÷4))÷4))=7.31years
Hope it helps :-)
It is just 18 :)It is just 18 :)
B. 10.1%
(2)(12)($88.18) ÷ [($1100)(18+1)]
(2,116.32) ÷ (20,900)
= 0.1012
= 10.1%
