According to the Rule of 70,if the Interest Rate Is

question 130

Multiple Choice

According to the rule of 70,if the interest rate is 5 percent,how long will it take for the value of a savings account to double?

• A)about 3.5 years
• B)about 6.3 years
• C)about 12 years
• D)about 14 years

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Definitions:

Credit Sales

Sales made by a business where payment is deferred to a later date, typically allowing the buyer to purchase goods or services on credit.

Variable Operating

Expenses associated with the operation of a business that vary with the level of production or sales, such as raw materials and direct labor costs.

Merchandise Inventory

The total of all goods held by a company that are ready for sale, typically used in retail and wholesale operations.

Direct Labour Budget

A direct labour budget estimates the total labor cost and number of labor hours required for production in a given period, based on forecasted sales and production levels.