rule of 72 | MathCelebrity Forum

rule of 72

  1. math_celebrity

    if a teachers salary grows by 4% each year. How many years will it take to double.

    if a teachers salary grows by 4% each year. How many years will it take to double. We can use the Rule of 72 at 4% to get 18 years
  2. math_celebrity

    Charlene wants to invest $10,000 long enough for it to grow to at least $20000. The compound interes

    Charlene wants to invest $10,000 long enough for it to grow to at least $20,000. The compound interest rate is 6% p.a. How many whole number of years does she need to invest the money for so that it grows to her $20,000 target? We want 10,000(1.06)^n = 20,000. But what the problem asks for is...
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