Question
Which of the following accounting rules can roughly
estimate how many years a given sum of money must earn at a given compound annual interest rate in order to double that initial amount.Solution
The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors obtain a rough estimate of how many years it will take for the initial investment to duplicate itself. However the Rule of 72 is reasonably accurate for low rates of return.
Which Indian cricketer was awarded the ICC Men’s Test Cricketer of the Year 2024?
Prague is the capital of which of the following countries?
The state government of which of the following states has recently announced a massive transfer of funds under the Krishak Unnati Yojana, a scheme aimed...
Gati Shakti University, Vadodara has signed an MoU with whom?
Who from the Asian Region was recently named the winner of the GBP 5,000 Commonwealth Short Story Prize 2024 in London?
Which state governments recently signed an MoU for the implementation of the Rs 72,000 crore Parbati-Kalisindh-Chambal (PKC) inter-state river linking p...
Which country developed the hypersonic ballistic missile named “Fattah-2”?
How many gold medals did India win in the Asian Games 2023?
Recently seems in the news, Vaigai Dam is located in which one of the following States?
In Koeppen's climate classification, what does the letter code Cwg represent?
