I’m working on a business discussion question and need a sample draft to help me learn.
Some of you may be familiar with the “Rule of 72”. You will need to research this if you are unfamilar with it. This rule is a mathematical construct which has applications in financial planning, population growth, etc..
As a practical exercise, consider whether you can accumulate $1 million (be a millionaire) by merely saving $200 a month.
Furthermore, when you consider this rule within the context of forecasting, describe the importance of choosing your growth rates for projecting your business plans. For example, assume a 3% growth rate verses a 7% growth rate, both on a consistent basis with compounding. Where is your business growth in 20 years under the 2 growth rate assumptions assuming your present day revenue is $1 million?
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