A three percent rate of inflation will cause prices to double every 24 years.

Name: A three percent rate of inflation will cause prices to double every 24 years.
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

The Rule of 72 is a simple way to estimate how long it will take for an investment or prices to double at a fixed annual rate of interest or inflation. By dividing 72 by the annual rate of inflation (3% in this case), you get approximately 24 years.

A Three Percent Rate of Inflation Will Cause Prices to Double