Thursday, June 17, 2021

What is thumb rule 72 - Number of years required to double your investment - compound interest - Time required to double your hard earned funds

Rule of 72 - Mathematical wonders


Number of yrs required to double your money at a given rate, U just divide 72 by interest rate


 


Example :

if you want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs

 Number 72 / rate of interest =  number of years


At 6% rate, it will take 12 yrs

At 9% rate, it will take 8 yrs 



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