3 ms·
It also works for inflation or other yearly recurring charges. Those small percentages add up quickly - at 3% inflation and 2% charges the value of your investm
by Luc 16y ago
It also works for inflation or other yearly recurring charges. Those small percentages add up quickly - at 3% inflation and 2% charges the value of your investment in today's dollars/euros will halve in 14 years. Yikes!
- eru 16y agoYes, but why use it, when you can do a logarithm?
- sesqu 16y agoFew people can do logarithms in their heads - and those that can, usually do it using similar tricks. I realize that "doing math in your head" is well on the decline, but it is pretty essential for speedy approximations, which are what many decisions tend to be based on.
- eru 16y agoYes. I was more on the line of suggesting taking out your calculator, if you want to know when your investment doubles.