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.
The diameter of a wheel W is 63 cm. It completes 1000 rotations in 1 minute. Find the speed of the vehicle.
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