Answer:
The number of years it will take $80 to be $40 using "the rule of 72" will be 24 years
Explanation:
"the rule of 72" is a method used to estimate the number of years it will take to either double or cut in half a capital by dividing '72' by the given interest or inflation rate.
capital : $80
half capital : $40
rate of inflation : 3%
To calculate N years it took to get $40 = 72/rate of inflation
= 72/3 = 24 years
