Nancy Would Like to Double the Money in Her Retirement

question 165

Multiple Choice

Nancy would like to double the money in her retirement account in five years.According to the rule of 70,what rate of interest would she need to earn to attain her objective?

• A)5 percent
• B)7 percent
• C)10 percent
• D)14 percent

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Definitions:

Scholarly Theories

Systematic and formulated ideas developed and tested through academic research and analysis, often serving as a foundation for understanding phenomena within various disciplines.

Systematic Research

A methodical approach to study and investigation that follows a structured path to gather and analyze data.

Inoculation Theory

A communication theory suggesting that exposing people to a weakened form of an argument can help them resist persuasion by stronger, opposing arguments.

Quantitative Research

A research method that collects and analyzes numerical data to identify patterns, measure variables, and establish statistical relationships.