The Rule of 72

Ever wanted to know how long it will take to double your wealth? Well, if you are earning 2% per year that is roughly 36 years. How about at a 7.2% return? That's about 10 years. 10% interest? Nearly 7.2 years. No need for a calculator, just divide the interest rate by the number 72. One more, 1% return (maybe that savings account that you forgot about?), it will take nearly 72 years for that initial deposit to double. 

So that's all there is too it, take the rate, divide that into 72 and voila, you will roughly know how long you'll need to wait to see your money double!

For further information about the Rule of 72, please click on https://en.wikipedia.org/wiki/Rule_of_72 or https://www.investopedia.com/ask/answers/what-is-the-rule-72/ (VPIA® is not affiliated with Wikipedia or Investopedia and does not guarantee, approve, or endorse the information or products available on these sites).

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