According to the rule of 72, if Katelyn invests $50, $100, and $200 into three separate accounts with the same interest rate, which amount will double fastest?

Question

29-04-2018
Mathematics

contestada

According to the rule of 72, if Katelyn invests $50, $100, and $200 into three separate accounts with the same interest rate, which amount will double fastest?

Respuesta :

Otras preguntas

Isla, Bob and Marie are playing a game involving counters. The total number of counters stays the same throughout the game. At the start of the game, the ratio

Consider the polynomial function p(x)=-5x^6-3x^5+4x^2+6xp(x)=−5x 6 −3x 5 +4x 2 +6xp, left parenthesis, x, right parenthesis, equals, minus, 5, x, start su

96 members are going to pass a resolution to select a team leader. If 1/6 of the members voted in favor and 2/5 of the members voted against how many did not vo

A marathon had 618 runners registered. Of these runners, about 0.8% completed the race in under 2 h 15 min. a) How many runners completed the race in this time?

What work must be done to place a satelite of mass 30kg in orbit at a height of 50km above the earth with a velocity of 800m sec?

Amy thinks of three numbers, which she calls a, b and c. The ratio a: cis 4: 3. The ratio b: cis 7:5. The median of a, b and c is 80. Work out the values of a,

On a game show, the first place winner got cash and prizes worth a total of $4,622.00. The runner-up won a total of $2,541.00. How much more did the first place

Amy thinks of three numbers, which she calls a, b and c. The ratio a: cis 4: 3. The ratio b: cis 7:5. The median of a, b and c is 80. Work out the values of a,

Although most predicted Phillip to ______ his father, he surprised them by reversing several of his fathers more malevolent policies. dislike resemble influence

Select the values that make the inequality m 4 true. Then write an equivalent inequality, in terms of m. (Numbers written in order from least to greatest going

ACCESS MORE

idksjhaglshf idksjhaglshf · Answer 1 · 2018-05-03T19:28:32+02:00

idksjhaglshf idksjhaglshf

03-05-2018

All will double at the same rate.

Answer Link

eudora eudora · Answer 2 · 2019-05-17T11:42:33+02:00

Answer:

All amount will double at the same time.

Step-by-step explanation:

The rule of 72, is the simple and popular way to determine how long an investment will take to double given a fixed annual rate of interest.

By dividing 72 by the annual rate of interest we can obtain an estimate of how many years it will take for the initial investment to be double.

For example: If $100 is invested at the rate of 6% ( 72/6 = 12 years ) It will take 12 years to be $200.

In this question Katelyn invests $50, $100 and $200 into three separate accounts with the same interest rate, Therefore, amount will double at the same time.