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(Solved): Using the rule of 72 , calculate how quickly \( \$ 5,000 \) will double to \( \$ 10,000 \) at inter ...
Using the rule of 72 , calculate how quickly \( \$ 5,000 \) will double to \( \$ 10,000 \) at interest rates of 3 percent, 4 percent, 7 percent, 8 percent, and 10 percent. Round your answers to one decimal place,
Expert Answer
The rule of 72 estimates the number of years it takes to double money a