Three alternatives for investing these funds

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The Rule of 70 applies in any growth rate application. Let’s say you have $1000 in savings and you have three alternatives for investing these funds.

A savings account earning 1% interest per year.

A U.S. Treasury bond mutual fund earning 3% interest per year.

A stock market mutual fund earning 8% interest per year.

How long would it take to double your savings in each of these 3 accounts?

Reference no: EM13998643

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