This rule is used to approximate the time required for prices to double due to inflation. If the inflation rate is r %, then the Rule of 72 estimates that prices will double in 72/r years. For instance, at an inflation rate of 6%, prices double in about 72/6 or 12 years. Using Visual Basic, write a program to test the accuracy of this rule. For each interest rate from 1% to 20%, the program should display the rounded value of 72/r and the actual number of years required for prices to double at an r% inflation rate. (Assume prices increase at the end of each year.) See the figure below.
Suggested Control Names and Attributes:
|Rule of 72
|Triggers event to display calculations