Suppose you have invested $1500 at an APR of 8%. Use the Rule of 72 to estimate how long it will be until your investment reaches $3000.
A) 6 years
B) 7 years
C) 8 years
D) 9 years
Correct Answer:
Verified
Q4: The _ of an investment is the
Q5: If interest is compounded 12 times per
Q6: At age 25, you start work for
Q7: Consider a savings account paying an APR
Q8: If you borrow money to pay for
Q10: The Rule of 72 states that the
Q11: The largest monthly payment we can afford
Q12: What is the future value of a
Q13: As an investor, you are searching for
Q14: The going rate for a home mortgage
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents