Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A 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:

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.