SOLUTION: The Consumer Price Index is increasing at a rate of 6%
per year. What is its doubling​ time? Use the approximate doubling time formula​ (rule of​ 70). Round to
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Question 1129964: The Consumer Price Index is increasing at a rate of 6%
per year. What is its doubling time? Use the approximate doubling time formula (rule of 70). Round to one decimal place.
A.64.0 years
B.11.7 years
C.12.0 years
D.4.2 years
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
the rule of doubling says take 70 and divide by the interest rate percent.
that gets you 70 / 6 = 11.7 rounded to 1 decimal place.
that's selection B.
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