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Double your wealth. Kant Miss Company is promising its investors that it will double their money...

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Finance

Double your wealth. Kant Miss Company is promising its investorsthat it will double their money every 3

years. What annual rate is Kant Miss​ promising? Is thisinvestment a good​ deal? If you invest ​$300

now and Kant Miss is able to deliver on its​ promise, how longwill it take your investment to reach

​$34,000​?

Using the Rule of​ 72, what annual rate is Kant Miss​promising?

24​% ​(Round to the nearest whole​ percentage.)

Using the time value of money​ equation, what annual rate isKant Miss​ promising?

​(Round to two decimal​ places.)

Is this a good investment?

How long will it take to reach the goal of $34,000?

Answer & Explanation Solved by verified expert
4.1 Ratings (568 Votes)
1Rule of 72 is an easy to calculatenumber of years to double your money at given interest rateProvidedKant Miss company double    See Answer
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