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:

William Stern

A German psychologist who is best known for developing the concept of the intelligence quotient (IQ) and for his significant contributions to differential psychology.

Intelligence Quotient

A measure of a person's reasoning ability compared to the statistical norm or average for their age, calculated using standardized tests.

Chronological Age

The exact age of an individual measured in years from the date of birth to the current date, usually used as a measure in developmental studies.

Mental Age

A measure of an individual's mental attainment as compared to the average mental ability of individuals of a specific chronological age.