Showing posts with label time required to double. Show all posts
Showing posts with label time required to double. Show all posts

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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