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.