Based on the rule of 72, what per annum interest rate must Oprah earn on her savings of $50 million to double these savings in 9 years? (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)
Based on the rule of 72, what per annum interest rate must Oprah earn on her savings of $50 million to double these savings in 9 years? (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
Related questions
Question
Based on the rule of 72, what per annum interest rate must Oprah earn on her savings of $50 million to double these savings in 9 years? (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you