If inflation is increasing at 3 percent per year,and your salary increases at the same rate,how long will it take your salary to double?
A)30 years
B)24 years
C)18 years
D)12 years
E)6 years Rule of 72: 72/3 = 24

Question

Quizplus · Accepted Answer

Using the rule of 72, we can calculate that it will take approximately 24 years for your salary to double if inflation and salary increases at a rate of 3 percent per year. Therefore, the best choice is B.

If Inflation Is Increasing at 3 Percent Per Year,and Your