This preview shows page 1. Sign up to view the full content.
Unformatted text preview: years? 4. Jennifer invests 1000 in a fund earning an annual effective interest rate of 10%. She wants to know when she will have 4000. Her banker estimates the time using the Rule of 72 as X years. Jennifer calculates it exactly as Y years. X and Y are not necessarily integers. Calculate Y - X. Answers: 1. 11.5813 Years 2. 7.3438% 3. 2004.23 4. 0.1451 years...
View Full Document
This note was uploaded on 02/05/2012 for the course MA 373 taught by Professor Staff during the Spring '08 term at Purdue.
- Spring '08