When prices are increasing at a rate of 6 percent, the cost of products would double in about 12 years.

Name: When prices are increasing at a rate of 6 percent, the cost of products would double in about 12 years.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is based on the Rule of 72, which estimates the number of years required to double the value at a given annual rate of increase. Dividing 72 by the rate of increase (6 percent) gives 12 years.

When Prices Are Increasing at a Rate of 6 Percent