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Business #2

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iam_trias | 22:41 Thu 03rd Sep 2015 | Business & Finance
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Use the Rule of 72 calculator. Enter 3% with an initial investment of $2000 in the first box. Enter 3% and the initial investment of $2500 in the second box. How much more will you make after 55 years by investing an extra $500 initially?
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Couldn't you just, you know, "enter 3% with an initial investment of $2000" in the actual box? This is literally just plugging numbers into a screen and reading off the output.
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Mamy's link tells us it is an established estimation tool. Anyone who got an exact answer would have their homework marked "wrong".

I think the question ought to ask how one uses this rule and how to apply it to the sample calculation problem.

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