Rule of 72 Approximately How Many Years Does It Take

question 131

Multiple Choice

Rule of 72 Approximately how many years does it take to double a $500 investment when interest rates are 4% per year?

• A) .06 years
• B) 6 years
• C) 6.94 years
• D) 18 years

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Definitions:

Instrumentality

An individual’s assessment of the probability that performance will lead to certain outcomes.

Effective Goals

Objectives that are clearly defined, measurable, achievable, relevant, and time-bound, guiding individuals or groups towards desired outcomes.

Goal Theory

A psychological framework that focuses on the motivational aspects of goal setting and achievement.