By the Rule of 72,what Annual Interest Rate Would Be

question 52

Multiple Choice

By the Rule of 72,what annual interest rate would be required to turn $100 into $200 in approximately six years?

• A)4%
• B)8%
• C)12%
• D)16%

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Definitions:

Red Tape

Excessive bureaucracy or adherence to formal rules and regulations that can delay or complicate processes and decision-making.

Bureaucratic Organisation

A type of organizational structure that operates under a fixed set of rules and procedures, often with a hierarchical system of administration.

Quantitative Approaches

Methods that focus on obtaining and analyzing numerical data for the purpose of making decisions or understanding patterns.

Computer Technology

The study and application of the design, construction, and use of computers and software for processing and managing information.