For john D The rule of 72 is used to make a quick estimate of the time required

Sunday July 31, 2022

For john D The rule of 72 is used to make a quick estimate of the time required for prices to double due to inflation. If the inflation rate is r percent then the rule of 72 estimates that prices will double in 72/r years. For instance at an inflation rate of 6 percent prices double in about 72/6 or 12 years. Write a program to test the accuracy of this rule. The program should display a table showing for each of r from 1 to 20 the rounded value of 72/r and the actual number for years required for prices to double at an r percent inflation rate. (Assume prices increase at the end of each year.) Interest rule Rate (%) of 72 actual 1 72 70 2 36 36 3 24 24


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