According to Rule of 72, what will be the rate of inflation if the price of a commodity doubles in 12 years?

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08-05-2017
Business

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According to Rule of 72, what will be the rate of inflation if the price of a commodity doubles in 12 years?

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BlueSky06 BlueSky06 · Answer 1 · 2017-05-21T12:07:17+02:00

BlueSky06 BlueSky06

21-05-2017

According to Rule of 72, an amount of investment equal to $5,000 with an investment interest with an average of 6 percent will only take 12 years to double the value. The price will be equal to $10,000 after 12 years.

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