According to the Rule of 72, a 12% Annual Increase

question 126

True/False

According to the rule of 72, a 12% annual increase in real GDP would lead to a doubling of real GDP in 8 years.

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Definitions:

Revenue

The total amount of money received by a company for goods sold or services provided during a certain period.

Factoring

The process of breaking down an expression into a product of its simpler factors.

Equation

A mathematical statement asserting the equality of two expressions, typically involving variables and constants.