If a bank deposit will double in value in 18 years, the rule of 72 implies that the interest rate on the deposit must equal is approximately:
A. 8 percent.
B. 6 percent.
C. 4 percent.
D. 3 percent.
Answer: C
You might also like to view...
When the city of Fresno holds a referendum to determine if taxes will be raised to pay for road repairs, the city is using a ________ allocation method
A) majority rule B) market price C) contest D) personal characteristics E) command
The table above gives the cost of producing T-shirts. When 5 T-shirts are produced, the average fixed cost is ________ and the average variable cost is ________
A) $4; $10 B) $10; $6 C) $5; $3 D) $4; $6
As the economy nears the end of an expansion, interest rates usually ________ and wages rise more ________ than prices
A) fall; rapidly B) fall; slowly C) rise; slowly D) rise; rapidly
Explain how continuing technical progress may cause the price of scarce, exhaustible resources to fall over time
What will be an ideal response?