If real income grows at approximately 4% per year,the number of years it will take for real income to double is approximately

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Quizplus · Accepted Answer

The Rule of 72 states that the number of years it takes for an investment to double in value is approximately 72 divided by the annual rate of return. Therefore, applying this rule to real income growth of 4% per year, we get 72/4 = 18 years to double.

If Real Income Grows at Approximately 4% Per Year,the Number