Personal Finance (MindTap Course List)
Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
Question
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Chapter 1, Problem 9DTM
Summary Introduction

To calculate:The number of years to double the money.

Introduction: Rule of 72 is one of the direct rules of finance to find the time period to double the money invested. As per this rule, one can calculate the estimated number of years in which money can be doubled. As per this rule, 72 numbers is divided by the interest rate number to find the number of years to double the money.

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