The Rule of 72: A Simple Way to Calculate Compound Interest
The Rule of 72 is a simple and effective way to calculate compound interest. It states that if you divide the number 72 by the annual rate of return, you will get the approximate number of years it will take for your investment to double. For example, if you invest at a rate of 8%, it will take approximately 9 years for your investment to double. This is a great tool for investors to use to plan for their future.
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