Final answer:
The rule of 70 is a useful tool for quick estimations in finance. It tells us that the time it will take a system or collection to double in size is 70 divided by the percentage growth rate. Hence, 1) True.
Step-by-step explanation:
The rule of 70 is a useful tool for quick estimations in finance. It tells us that the time it will take a system or collection to double in size is 70 divided by the percentage growth rate.
For example, a 2% growth rate doubles in 35 years, and a 10% rate doubles in 7 years.