The rule of 70 states that: A) if y_t grows at a rate of g percent per year, then the number of years it takes y_t to double is approximately equal to 70/g B) if y_t grows at a rate of g percent per year, then the number of years it takes y_t to double is exactly equal to 70/g C) if y_t grows at a rate of g percent per year, then the number of years it takes y_t to double is approximately equal to g/70 D) if y_t grows at a rate of g percent per year, then the number of years it takes y_t to triple is approximately equal to 70/g E) if y_t grows at a rate of g percent per year, then the number of years it takes y_t to double is approximately equal to 70/(1 + g)

Question

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The rule of 70 states that if y_t grows at a rate of g percent per year, then the number of years it takes y_t to double is approximately equal to 70/g. Option A is the only choice that correctly represents this rule.

The Rule of 70 States That