Question

Us the rule of 70 to estimate the years to double for an annual inflation rate of 7%

Answer 1

i thought it was the rule of 72

Answer 2

anyway you divide 70 by the interest rate
---> 70/7 = 10
10 yrs

Answer 3

I've heard it as the rule of 72 also.

Answer 4

By the way the exact figure for 7% to double in value is 10.2448 years.

Answer 5

70/7 = 10
72/7 = 10.2857142857
Seems the rule of 72 is more exact than the rule of 70 but the rule of 72 is NOT exact either.