John Madrid put $1,000 into a mutual fund yielding an 18% annual rate of return. Using the Rule of 72, calculate approximately how long it will take for the investment to double in value
A) Three years, four months
B) Three years and seven months
C) Four years
D) Four years and four months
E) Five years
Answer: C
Business
You might also like to view...
Measured variables or indicators are the actual items that are measured using a survey
questionnaire. Indicate whether the statement is true or false
Business
Which of the following statements is least likely to measure whether you have a proactive personality?
a. "I excel at identifying opportunities." b. "I am always looking for a better way to do things." c. "If I see something I don't like, I fix it." d. "I like to work with people from other cultures."
Business