Understanding the Rule of 72 and Function Notation

What is the Rule of 72 used for?

• Calculating the interest rate of a loan

• Estimating the time to double an investment

• Determining the future value of an investment

• Calculating the present value of an investment

In function notation, what does 'f(x)' represent?

• The output value

• The input value

• The rate of return

• The time period

How many years will it take to double an investment with a 6% annual return using the Rule of 72?

• 6 years

• 8 years

• 12 years

• 14 years

If the rate of return is 8%, how many years will it take for the investment to double?

• 11 years

• 9 years

• 8 years

• 10 years

What is the first step in using function notation to solve a problem?

• Create a function equation

• Identify the output value

• Use order of operations

• Plug in the input values