calculation question - How many years before X number of sales

Anonymous A

Hi,

I would like to know how to answer the following question, without having to calculate the incremental increase year after year (and without calculator) :

If A has $6000 of sales today, how many years will it take B to get there, if he has $3000 sales today, with 5% of growth each year ?

Thanks

Alex
Expert
replied on 12/07/2017
PIP

You may apply the Rule 72. You divide 72 by the rate and get the number of years to double the initial number:

https://www.investopedia.com/ask/answers/04/040104.asp

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