F you deposit money today into an tale that pays 6.5% , how long would it help yourself to to double your money?
Answers:
Its the rule of 72's.. Divide 72 by 6.5 and thats how plentiful YEARS it will appropriate to double it. and thats almost 10-11 yrs surrounded by your overnight case..
this ain't math class
The rule of 72 is immensely constructive. Divide any number (between around 2 and 25) into 72 and you carry something like how long it lug money to double at that interest rate.
So 72/ 6.5 = 11.2. It take more or less 11.2 years (rough estimate - but isn't this a confident promptly style to do it).