Week 7: Rule of 72 Scenario: Esteban has $50 in a bank account earning 2%...
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Week 7: Rule of 72 Scenario: Esteban has $50 in a bank account earning 2% compounded annually. He wants to buy a 5200 pair of Nikes. Use the Rule of 72 to answer these questions approximately 1. How long must he wait? 2. What if, while he's waiting a new version comes out which costs $400. Now how long must he wait? 3. What if he could earn 4%? 4. When would you rather use the Rule of 72 instead of making a precise calculation? Post your answers and calculations. Help each other
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