How to solve 2 Rule of 72 If you deposit 5,000 today at 12 percent rate of interest in how many years (roughly) will this amount grow to ₹1,60,000 ? Work out this problem using the rule of 72 - do not use tables.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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2 Rule of 72 If you deposit 5,000 today at 12 percent
rate of interest in how many years (roughly) will this
amount grow to ₹1,60,000 ? Work out this problem
using the rule of 72 - do not use tables.
Transcribed Image Text:How to solve 2 Rule of 72 If you deposit 5,000 today at 12 percent rate of interest in how many years (roughly) will this amount grow to ₹1,60,000 ? Work out this problem using the rule of 72 - do not use tables.
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