Question;Unit 6 DB: Practice Questions for the Final ExamHere are some practice questions designed to prepare you for the final exam. Work together to solve these questions.Solve the following using The Rule of 72.You expect to earn 8% per year on your investment. If you invest $3000 today, how much will your investment be worth in 9 years?You want to have $40,000 available to finance a trip around the world in 12 years. You estimate that you can earn 12% on your investment. How much do you need to deposit today to meet your goal?A new Grady White fishing boat cost $5000 in 1979. Today, the very same boat costs around $40,000. Estimate the average annual inflation rate, using the Rule of 72.You invest $2000 today and expect ot earn 9% per year. how many years will it take for your investment to grow to $32,000?
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