Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.) 3% compounded annually. "rule of 72"         yr exact answer          yr

Essentials Of Investments
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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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8. Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.)

3% compounded annually.
"rule of 72"         yr
exact answer          yr

10. Since 2007, a particular fund returned 13.9% compounded monthly. How much would a $6000 investment in this fund have been worth after 2 years? (Round your answer to the nearest cent.)
$

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