Double your wealth. Kant Miss Company is promising its investors that it will double their money every 4 years. What annual rate is Kant Miss promising? Is this investment a good deal? If you invest $400 now and Kant Miss is able to deliver on its promise, how long will it take your investment to reach $35,000? Using the Rule of 72, what annual rate is Kant Miss promising? % (Round to the nearest whole percentage.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Double your wealth. Kant Miss Company is promising its investors that it will double their money every 4 years. What annual rate is
Kant Miss promising? Is this investment a good deal? If you invest $400 now and Kant Miss is able to deliver on its promise, how long
will it take your investment to reach $35,000?
Using the Rule of 72, what annual rate is Kant Miss promising?
% (Round to the nearest whole percentage.)
Transcribed Image Text:Double your wealth. Kant Miss Company is promising its investors that it will double their money every 4 years. What annual rate is Kant Miss promising? Is this investment a good deal? If you invest $400 now and Kant Miss is able to deliver on its promise, how long will it take your investment to reach $35,000? Using the Rule of 72, what annual rate is Kant Miss promising? % (Round to the nearest whole percentage.)
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