Between 1970 and 1976, Israel's average inflation rate was about 65 percent per year. With that rate of inflation, prices would double about every ________ years, using the rule of 70.
A) 93
B) 107.7
C) 0.95
D) 1.1
E) 9.3

Question

Quizplus · Accepted Answer

The rule of 70 states that to find the doubling time of an investment or inflation rate, you divide 70 by the annual growth rate. For a 65% inflation rate, 70 / 65 ≈ 1.1 years.

Between 1970 and 1976, Israel's Average Inflation Rate Was About