Question

According to the rule of 72, in about how many years will $80 be worth $40 if

the rate of inflation is 3%?
O A. 48 years
B. 6 years
C. 24 years
Ο Ο
D. 12 years

Answer 1

24 Years

Explanation:

Rule of 72 is an approximation that you can use to estimate the time it will take for something to double in value at a compound rate of interest

use the following equation

72/(i*100)

we have

72/(.03*100)

72/3=24