Final answer:
The Rule of 72 is a mathematical formula that allows you to estimate the number of years it will take for an investment or any value to double.
Step-by-step explanation:
The Rule of 72 is a mathematical formula that allows you to estimate the number of years it will take for an investment or any value to double.
It is an approximation that is often used in finance and economics. To use the Rule of 72, you divide 72 by the annual growth rate or interest rate.
For example, if the annual growth rate is 5%, you divide 72 by 5 to get approximately 14.4.
This means it will take around 14.4 years for your money to double at a 5% annual growth rate.
Therefore, the answer to the question is A) True.