The Rule of 72 Can Be Used to Quickly Estimate

question 19

True/False

The Rule of 72 can be used to quickly estimate interest rates necessary to double your money in a given time period without the use of a spreadsheet or calculator.However,the rule does NOT work for estimating growth rates.

---

Definitions:

Private Firms

Businesses owned and controlled by individuals or groups of individuals, as opposed to being owned by the government.

Property Rights

Legal rights to possess, use, and dispose of assets including real property (land and buildings) and intellectual property.

Fundamental Function

A basic or essential function that is fundamental to a system or process.

Government

The organization that is the governing authority of a political unit, responsible for creating and enforcing laws and managing public resources and services.