Hello, PrepLounge Colleagues
I was doing the Casestone Inc case, and it asked the candidate to do the following math:
$100.000 * (1,04)^54 = ?
I do know the rule of 72, so I know the amount will be more than $200.000.
I also know that we can change the compound for simple interest for small tax rates and short periods of time, which is not the case here.
Any suggestions?
Thanks!
(edited)
Thank you, Francesco!!! It's funny how I already knew the method all along! Thank you so much for your help!