2 years ago

How does the amount of principal affect the number of years the rule of 72 predicted in the example above?

1 answer:

8 0

Answer:

If the interest per quarter is 4% (but interest is only compounded annually), then it will take (72 / 4) = 18 quarters or 4.5 years to double the principal. If the population of a nation increases at the rate of 1% per month, it will double in 72 months, or six years.

Step-by-step explanation:

hope this helps

You might be interested in

Questions: 1) 2x2 + 5x + 2 = 0

xz_007 [3.2K]

Answer:

x = -1/2 and -2

Step-by-step explanation:

Solve for x: Move all terms to the left side and set equal to zero. Then set each factor equal to zero.

Using the quadratic formula: Solve the equation for x by finding a, b, and c of the quadratic then applying the quadratic formula.

7 0

3 years ago