Know 72: Do calculations in your head

Do the calculation in your headThere are times when you want to quickly evaluate how quickly your money will double at a given interest rate. Then just use the 72 rule- just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years. If your interest rate goes up to ten percent, then it’s only 7.2 years.

Want proof this simple trick works? See The Rule of 72 – Why it Works.

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