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Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642 Exercise 3
Suppose your aunt invests $2,000 for you. You are not allowed to have the money until the original amount doubles. Your aunt's investment earns 10 percent, compounded annually. Give a rough estimate of how long it will take before you can access the money your aunt invested for you.
Explanation
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Rule of 70:
The rule of 70 states the r...
Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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