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Followup question, how to estimate/calculate compound interest in your head quickly? (Any direction, solving for the rate, or for the time, or the principal ne
by Zacharias030 4y ago
Followup question, how to estimate/calculate compound interest in your head quickly?
(Any direction, solving for the rate, or for the time, or the principal needed)
- nigamanth 4y agoApplying the formula isn't that hard, but this one could be hard to write about because it depends upon the amount of time the sum is compounding or the exponent in the equation. ^2 and ^3 are quite easy but when it comes to ^7/^9 there's no easy way to calculate mentally.
- bberrry 4y agoThere is a method called the rule of 72. You can look it up but it's essentially: Years to Double = 72 / Annual Rate of Return
- nigamanth 4y agoStill cannot be done mentally.