gabrielaaa0716 gabrielaaa0716
  • 18-10-2017
  • Mathematics
contestada

A formula that helps you calculate how long it will take for your savings to double is the Rule of 72.

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wizard123
wizard123 wizard123
  • 18-10-2017
True.

For example, if your annual rate of return is 12%, then it will take approximately 6 years to double your savings.

---> 72/12 = 6

If your return is 18%, Then it will take about 4 years.

---> 72/18 = 4

It works best for lower growth rates, less than 30%.
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nconline2004
nconline2004 nconline2004
  • 04-03-2021

Answer:

True I hoped this helped!

Step-by-step explanation

Got it right on my quiz

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