The Rule of 72 Is

question 47

Multiple Choice

The Rule of 72 is:

• A) A tool to determine the number of years until retirement for an employee
• B) Used to estimate how fast prices will double using a given annual inflation rate
• C) The legal code for requiring companies to provide a match on retirement savings
• D) Used to calculate interest rates for savings
• E) The number of steps required to complete a financial plan

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Definitions:

Psychological Control

A disciplinary technique that involves threatening to withdraw love and support, using a child’s feelings of guilt and gratitude to the parents.

Sense of Belonging

The feeling or perception of being an accepted and integral part of a group, community, or environment.

Discipline Strategy

Approaches and methods used by parents, teachers, and caregivers to teach children about rules, expectations, and appropriate behavior.

Time-Out

A disciplinary technique in which a person is separated from other people and activities for a specified time.