Double your wealth. Kant Miss Company is promising its investors that it will double their money every 5 years. What annual rate is Kant Miss promising? Is this investment a good deal? If you invest \( \$ 450 \) now and Kant Miss is able to deliver on its promise, how long will it take your investment to reach \( \$ 35,000 \) ? Using the Rule of 72, what annual rate is Kant Miss promising? \( \square \% \) (Round to the neares_ whole percentage.)

Kant Miss Company claims it can double your money every 5 years. To find the annual rate, you can use the Rule of 72. Simply divide 72 by the number of years it takes to double (which is 5). So, \( 72 / 5 = 14.4\% \). Rounding to the nearest whole percentage, Kant Miss is promising an annual rate of approximately 14%. Now, let's calculate how long it will take for your initial investment of \( \$450 \) to grow to \( \$35,000 \). Given the approximate 14% annual interest, use the formula for compound interest: \( A = P(1 + r)^t \). Rearranging gives you \( t = \log(A/P) / \log(1 + r) \). Plugging in the numbers, you’ll find it takes about 25.5 years to reach your goal. So, buckle up for a long ride if Kant Miss delivers on its bold claim!