The Rule of 72 is a useful approximation for many interest rates and periods for the time it takes a lump sum to double in value. For a 10 percent interest rate, calculate the time that will be taken for a lump sum to double in value. (Hint: Use the Solver function in Excel.) (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
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Home » Mathematics » The Rule of 72 is a useful approximation for many interest rates and periods for the time it takes a lump sum to double in value. For a 10 percent interest rate, calculate the time that will be taken for a lump sum to double in value.