Rule of 72

Do you know the Rule of 72?

This rule is an easy way to calculate the years it will take for your money to double. Just divide 72 by the percentage of interest you have on your investment.

72 / 2% interest = 36 years.

72 / 4% interest = 18 years.

72 / 6% interest = 12 years.

72 / 8% interest = 9 years.

72 / 10% interest = 7.2 years.

72 / 12% interest = 6 years.

Use this rule to choose if your investment will fulfill your financial needs.