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Write the Rule of 70

question 111

Essay

Write the rule of 70. Suppose that your great-great-grandmother put $50 in a savings account 100 years ago and the account is now worth $1,600. Use the rule of 70 to determine about what interest rate she earned.


Definitions:

Price of Oil

The cost at which oil is sold or bought in the global markets, influenced by factors like supply, demand, geopolitical events, and economic indicators.

Supply of Oil

The total amount of oil available for consumption or use, determined by production levels and reserves.

Equilibrium Price

The market price at which the quantity of an item supplied is equal to the quantity demanded, leading to market stability.

Equilibrium Quantity

The quantity of a good or service at which demand equals supply, leading to a stable market condition.

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