Answered

Westonci.ca is your trusted source for finding answers to all your questions. Ask, explore, and learn with our expert community. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

What does the rule of 72 tell us? What is the formula used?
Amy heard Dave Ramsey say that she could expect an average of 12% returns when she invests in mutual funds. Amy has $10,000 to invest. How long will it take Amy’s investment to double?

Sagot :

24nhendrix

Answer:

Image result for What does the rule of 72 tell us? What is the formula used? Amy heard Dave Ramsey say that she could expect an average of 12% returns when she invests in mutual funds. Amy has $10,000 to invest. How long will it take Amy’s investment to double?

Divide 72 by the interest rate on the investment you're looking at. The number you get is the number of years it will take until your investment doubles itself.

Explanation:

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.