Rule of 72 Approximately How Many Years Does It Take

question 75

Multiple Choice

Rule of 72 Approximately how many years does it take to double a $300 investment when interest rates are 8% per year?

• A) .11 years
• B) 4.17 years
• C) 9 years
• D) 11 years

---

Definitions:

Multivariate Analysis of Variance

A statistical method used to compare group means on several dependent variables simultaneously.

Independent Variables

Variables in an experiment or model that are manipulated or categorized to observe their effect on dependent variables.

Confirmatory

Pertaining to tests or analyses conducted to confirm a prior hypothesis or finding.

Exploratory

Related to the initial investigation of phenomena, often without specific expectations or hypotheses, used to identify patterns, relationships, or insights.