Question

1)     The Rule of 70 applies in any growth rate application. Let’s say you have $1000 in savings and you

have three alternatives for investing these funds. How long would it take to double your savings in each of these 3 accounts?

a.      A savings account earning 2% interest per year.

b.     A U.S. Treasury bond mutual fund earning 5% interest per year.

c.      A stock market mutual fund earning 7% interest per year.

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