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Money Riddles
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How many doublings
of a dollar does it take to reach 1 million dollars?
20
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How many doublings
of a dollar does it take to reach 1/2 million dollars?
19
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How many doublings
of a dollar does it take to reach 1 million dollars if your
earnings are taxed annually at 20%?
24
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How many times will you double your wealth (not income) before retirement?
(To simplify the estimation use the rule of 72. In finance, the rule of 72 is used to estimate the amount of
time it takes savings or an investment to double. To estimate the number of years required to double an original investment,
divide the the expected growth rate by 72. For instance, if you were to invest $100 with compounding interest at a rate of 9% per year,
the rule of 72 gives 72/9 = 8 years required for the investment to double or be worth $200.
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