If a Savings Account Pays 3

question 12

Short Answer

If a savings account pays 3.5% interest, then according to the rule of 70 how long will it take for the account balance to double?

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Definitions:

Consuming Goods

The act of using up or buying products and services to fulfill human needs or desires.

Distribution

The process by which goods, resources, or information are spread or disseminated across different locations or groups.

Cooperative Labor

A work system where individuals work together towards a common goal, often seen in communal societies.

Tools

Instruments or devices that are used to carry out a particular function, typically to make jobs easier or more efficient.