Using the "rule of 72" approximately how long will it take for productivity to double with a constant productivity growth rate of 1.5 percent per year?

Question

Quizplus · Accepted Answer

The rule of 72 states that the number of years it takes for an investment to double in value is approximately 72 divided by the annual growth rate. Therefore, for productivity to double with a growth rate of 1.5 percent per year, it would take approximately 72 divided by 1.5, which is 48 years. Therefore, the best choice is B.

Using the "Rule of 72" Approximately How Long Will It