Question

question 9 of 10
according to the rule of 72, in about how many years will $82 be worth $41 if
the rate of inflation is 5.6%?

a. 12.3 years

b. 14.6 years

c. 7.3 years

d. 12.9 years

Explanation:

Step1: Recall Rule of 72 formula

Time = $\frac{72}{\text{Inflation Rate}}$

Step2: Plug in inflation rate

Time = $\frac{72}{5.6}$

Step3: Calculate the result

$\frac{72}{5.6} \approx 12.9$ years

Answer:

D. 12.9 years