Curtis Deposited $10,000 into an Account That Compounds Interest Annually

question 3

Essay

Curtis deposited $10,000 into an account that compounds interest annually at a rate of 5%.He wants to know how long it will take for his money to double but doesn't have a calculator with logarithms.If he estimates the answer to his question using the Rule of 72s,and then later tries to verify his estimate with a better calculator,how many days will his estimate be off? Round your answer to the nearest day.

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Definitions:

Aortic Valves

The valve in the heart that controls blood flow from the left ventricle into the aorta.

Hemorrhagic Shock

A condition of reduced tissue perfusion, inadequate oxygen supply to the cells, often a result of severe blood loss.

Cardiac Output

The volume of blood the heart pumps through the circulatory system in one minute, typically measured in liters per minute.

Hypertrophy

The enlargement of an organ or tissue from the increase in size of its cells, commonly associated with increased muscle mass from exercise.