Using the Rule of 70,about How Much Would $100 Be

question 158

Multiple Choice

Using the rule of 70,about how much would $100 be worth after 50 years if the interest rate were 7 percent?

• A)$400
• B)$800
• C)$1,600
• D)$3,200

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Definitions:

Closing Accounts

The process of finalizing all ledger accounts to prepare financial statements at the end of an accounting period.