Grow an investment to a specific amount of money

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Reference no: EM131053041

Which of the following statements about calculating the number of years needed to grow an investment to a specific amount of money is true?

a. The lower the interest rate, the shorter the time period needed to achieve the growth.

b. The higher the interest rate, the shorter the time period needed to achieve the growth.

c. The interest rate has nothing to do with the length of the time period needed to achieve the growth.

d. The Rule of 72 is the only way to calculate the time period needed to achieve the growth.

Reference no: EM131053041

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