3 ms·
The article does not mention Rule of 72. Divide 72 by the interest rate and it gives you the time to double your money. eg at 7% compounding it takes around 1
by airbreather 5y ago
The article does not mention Rule of 72.
Divide 72 by the interest rate and it gives you the time to double your money.
eg at 7% compounding it takes around 10 (72/7) years to double your starter value.
For a rule of thumb surprisingly accurate out to a fairly wide range.