RULE OF 72

RULE OF 72

KG - Professional Development

11 Qs

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RULE OF 72

RULE OF 72

Assessment

Quiz

Life Skills

KG - Professional Development

Practice Problem

Hard

Created by

Christian Cruz

Used 42+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is the creator of the Rule of 72?

Lieutenant Commander Cruz

Bill Gates

Elon Musk

Albert Einstein

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the formula for the Rule of 72?

Time Divided by 72 Equals the Interest Rate

72 Divided by Interest Rate Equals the Time to double your money

Interest Rate Multiplied by 72 Equals the time to double your money

Your money deposit divided by 72 Equals the time to double your money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which investment/savings tool would yield the most interest back to you?

Savings account

Bonds

Certificates of Deposit

Stocks

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement is NOT TRUE in regard to banks?

They pay attractive interests rates in their savings and checking accounts

They pay very little in interest rates

They charge you to use your own money

They make insane amounts of money lending your money to other people

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following investment(s) is/are best suited to double up your money in the least amount of time?

Mutual Funds

Stocks

Certificates of Deposit

Savings Accounts

Checking accounts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I invest $20,000 in a Certificate of Deposit that pays 3% interest, how many years till I double up my money?

5

12

24

36

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I invest $10,000 in a Stock that pays 12% interest at the age of 18, at what age will I see my money double up?

24

23

22

21

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