Using the Rule of 72,approximately How Long Will It Take

question 90

Multiple Choice

Using the Rule of 72,approximately how long will it take to double your money if you invest it at 8% compounded annually?

• A)6 months
• B)9 months
• C)6 years
• D)9 years
• E)It depends on the amount of the initial investment.

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Definitions:

Despair

a state of mind characterized by feelings of loss, hopelessness, or pessimism.

Coping

Strategies or mechanisms employed by individuals to handle, manage, or adapt to stress and difficult situations in life.

Stress

(1) Physical or psychological demands on a person or organism. (2) Response to physical or psychological demands.

Adapt Thinking

The process of adjusting one's thoughts and cognitive processes in response to new information or environments.