F you depoist money today into an information that pays 6.5 % interest how long will it steal to double your money?
Answers:
you guys are adjectives right -- very soon how is going to explain that to her tutor.
It is the rule of 72.
See cooperation below for an explanation, and a calculator.
is it compound interest? later here is your algebraic answer: steal the annual percentage rate, and divide it by 72! TADA!
72/6.5=11.07
Rule of 72 works by dividing 72 by the interest rate. this give the number of years for your money to double.
For 6.5, its 72/6.5=11.07 years.