Using the rule of 70, how many years would it take for David's income to double if he was to experience a 4 percent increase in income each year?

Name: Using the rule of 70, how many years would it take for David's income to double if he was to experience a 4 percent increase in income each year?
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Question

Quizplus · Accepted Answer

The rule of 70 states that you can estimate the number of years it takes for a quantity to double by dividing 70 by the annual growth rate. For a 4% increase, 70 / 4 = 17.5 years.

Using the Rule of 70, How Many Years Would It