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13. the "rule of 72" to estimate the doubling time (in years) for the interest rate,...

13. the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.)

7.8% compounded weekly.

"rule of 72"       yr
exact answer       yr

  

14. the effective rate of the compound interest rate or investment. (Round your answer to two decimal places.)

20% compounded monthly. [Note: This rate is a typical credit card interest rate, often stated as 1.7% per month.]


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