If he earned an average of 4 on the account how many times did it double. The purpose of this activity is for students to understand and apply the rule of 72 which is used to see how long it takes for investments to double the rule of 72 can also show what interest rate you need to earn to double your.
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Bryce invested 30 000 in his employee sponsored retirement account when he was 23 years old.
Rule of 72 worksheet answers chapter 8. Foundations in personal finance high school edition chapter 8 rule of 72 by kent eberspacher teacher wyoming 2 2 use the rule of 72 to answer the following questions 1 what annual interest rate will cause your money to double in four years. 72 11 6 5 years 3. Doug invested 2 500 into a certificate of deposit earning 6 5 0 interest.
The average stock market return since 1926 has been 11 0. Math 115 final exam formulas. Rule of 72 worksheet free printable reading with questions for grade 7 12 economics pdf file.
What rate of return must tanner earn for his investment to double. 2 tanner has invested 500 for college. Rule of 72 by kent eberspacher teacher wyoming teacher directions go over the rule of 72 and do a few sample problems.
How long will it take to double doug s investment. 72 interest rate number of years to double. Rule of 72 key 1.
Chapter 8 foundations in personal finance high school edition rule of 72 by kent eberspacher teacher wyoming 2 2 use the rule of 72 to answer the following questions 1 what annual interest rate will cause your money to double in four years. 72 6 interest 12 years 72 10 years 7 2 interest students will need the internet to complete the first two columns of the activity. Chapter 8 personal finance.
72 6 5 11 years 2. Use the rule of 72 to answer the following questions. What is the rule of 72.
Learn vocabulary terms and more with flashcards games and other study tools. Individual or pairs 3 0 m i n u t e s materials. Other sets by this creator.
403 b non profit like church school and hospitals. Divide the rule number 72 by the annual interest rate r to nd out the approximate time t required for doubling. According to the rule of 72 how often will an individuals investment double.
Course materials internet access and the activity handout objective. Quick way to calculate length of time it will take to double your sum of money. Start studying dave ramsey chapter 8.
What is the value at age 65. Compound interest means earning interest on your interest you can use the ruleof 72. 2 tanner has invested 500 for college.
How is it calculated. It doubles about 2 33 times. The rule of 72 only applies to compound interest not to simple interest calculations.
He is now 65 years old and ready to retire.
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