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3 years ago

PLEASE HELP ASAP!! CORRECT ANSWER ONLY PLEASE!!!

Business

2 answers:

elixir [45]3 years ago

8 0

Answer:

a. the approximate triple in value

hope it helps :)

FinnZ [79.3K]3 years ago

8 0

Answer:

Explanation:

So, lets go over what the rule of 72 is.

First off, the formula is: $t=\frac{72}{r}$

The t stands for time in years.

The r stands for the intrest percentage.

So bascially, t is just 72 divided by the intrest rate.

So we know what the forumla/varaibles is, but what is it used for?

Well, lets plug in a number and see.

How about we go with an intrest rate of 8%? This is the most accurate percentage to use with the rule of 72, and the numbers get more and more inaccurate as you go higher or lower than this percentage:

t=72/8

t=9

So we know that it takes 9 years to do...what exactly?

Well, lets see, if you multiply 72 by 108% 9 times, what do you get? Remember that parehteses are important, and if you are testing this on a calculator, you should do 72*(1.08^9):

Well, 1.08 to the ninth power is 1.999

Times this by 72, and you get: 143.28

This is not 100% accurate, but as you can see, its very close to DOUBLING the value.

So, we know that it would take 9 years in this situation to double our value, or in other words:

9 years is the approximent time it takes to double our value, or investment.

This looks almosted exactly like B.

Hope this helps!

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I hope my answer helps you

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