Question

PLEASE HELP ASAP !!!!!!!!!!!

Answer 1

Answer:

Step-by-step explanation:

Given the following :

Period = 15 years

Worth of investment = $7,200

The rule of 70 is represented by the formular :

Number of years to double = ( 70 / Annual percentage growth rate)

Inputting our values :

Number of years to double = 15 years

15 = 70 / Annual percentage growth rate

Annual percentage growth rate * 15 = 70

Annual percentage growth rate = (70 / 15)

= 4.667%

Therefore according to the rule of 70, it will take an annual percentage growth rate of 4.667% to double the investment.