If over the past few years,the price of houses has been increasing at an annual rate of 4 percent nationally.How many years will it take for costs to double at this rate?
A)7
B)9
C)15
D)18

Question

Quizplus · Accepted Answer

To determine how many years it will take for costs to double with a 4 percent annual increase, we can use the Rule of 72. The Rule of 72 is a simple formula to estimate the number of years required to double the investment at a fixed annual rate of return. By dividing 72 by the annual rate of increase (4 percent), we get 72 / 4 = 18 years.

If Over the Past Few Years,the Price of Houses Has