With an inflation rate of 8 percent,prices would double in about ________ years.
A)4
B)6
C)9
D)10
E)12

Name: With an inflation rate of 8 percent,prices would double in about ________ years. A)4 B)6 C)9 D)10 E)12
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

The "Rule of 72" is a quick way to estimate the number of years required to double the value of an investment at a given annual rate of return or inflation rate. By dividing 72 by the annual rate of increase (in this case, 8 percent), you get approximately 9 years (72 / 8 = 9).

With an Inflation Rate of 8 Percent,prices Would Double in About