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Type the number

Exercise and reference answers

Questions
  1. Answer
    1040
    Question
    Balance after one year on 1,000 at 4 percent
  2. Answer
    8
    Question
    Years to double at 9 percent under the rule of 72
  3. Answer
    12
    Question
    Years to double at 6 percent under that rule
  4. Answer
    6
    Question
    Years to double at 12 percent under that rule
  5. Answer
    315
    Question
    Balance after one year on 300 at 5 percent
  6. Answer
    72
    Question
    The number the doubling rule divides by the rate
Instructions
Type the number only.

Explanation

_Source: OpenStax Principles of Finance 2e, Chapter 7, Time Value of Money I._
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