How many years will it take for an inflation rate of 2% to double prices?

Name: How many years will it take for an inflation rate of 2% to double prices?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The rule of 72 states that to determine the number of years it will take for an investment to double in value, you divide 72 by the annual rate of return. Using this rule, we can calculate that it will take approximately 36 years for prices to double with an inflation rate of 2% (72/2=36). Therefore, the best choice is C, which corresponds to 36.

How Many Years Will It Take for an Inflation Rate