Question

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

Answer 1

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:

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