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#Rule72
What is Rule 72?
In personal finance, if you divide the number 72 by the rate of interest, you get to know the number of years it will take for you to double the money..
#Rule72
What is Rule 72?
In personal finance, if you divide the number 72 by the rate of interest, you get to know the number of years it will take for you to double the money..
Eg: if the rate of interest is 9%, simply divide the number 72 by 9 and the answer is 8. Thus it will take 8 years to double your money if you invest at 9% p.a. rate of interest.
#INTEREST
We can use this rule in reverse to know the rate of interest needed to double your money to achieve your set goal.
We can use this rule in reverse to know the rate of interest needed to double your money to achieve your set goal.
