The rule of 70 applies in any growth-rate application. Let’s say you have $2000.00 in savings...

The rule of 70 applies in any growth-rate application. Let’s say you have $2000.00 in savings and you have three alternatives for investing these funds. How many years would it take to double your savings in each of the following three accounts? In all cases, give your answers to two decimals.

a. a savings account earning 1.00% interest ______     years

b. a U.S. Treasury bond earning 2.00% interest _______   years

c. a stock market mutual fund earning 8.50% interest __________     years

Expert Solution

Rahul Sunny answered 1 year ago

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