Compound interest – CNBconnect

The Rule of 72: A Simple Trick to Understand Compound Interest

t is approximately equal to 72 divided by r. A formula that refers to the Rule of 72; t being the number of years and r representing the annual rate of return.

If you’ve ever wondered how long it takes for your money to double, there’s a quick mental shortcut that can save you from complex calculations: “The Rule of 72”. It’s one of the most practical tools in personal finance, and

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