A sum of money doubles itself in 5 years. In how many years will it become four-fold (if interest is compounded)?
Question
Solution 1
This problem can be solved using the rule of 72, which is a simple way to determine how long an investment will take to double, given a fixed annual rate of interest.
- The rule of 72 states that the time required to double an investment with a certain annual interest rate is approximately 72 div Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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