What is the approximate annual rate of increase for income

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Using the rule of 72 answers the following questions. a. In how many years will it take income to double if it is rising each year by 1 percent? 2 percent? 4 percent? b. A country’s income begins at $10,000 and rises to $20,000 in 18 years. What is the approximate annual rate of increase for income?

Reference no: EM13941292

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