the rule of 72 is used to determine\nthe age a person is eligible for retirement.\nhow long it takes for…

the rule of 72 is used to determine\nthe age a person is eligible for retirement.\nhow long it takes for money to double at a given interest rate.\nthe amount of money that should be put aside for emergencies.\na persons federal income tax rate.

the rule of 72 is used to determine\nthe age a person is eligible for retirement.\nhow long it takes for money to double at a given interest rate.\nthe amount of money that should be put aside for emergencies.\na persons federal income tax rate.

Answer

Brief Explanations:

The Rule of 72 is a quick - estimate formula in finance. It divides 72 by the annual interest rate percentage to find out approximately how many years it will take for an investment to double.

Answer:

how long it takes for money to double at a given interest rate.