What is the rule of 72?

Question

I keep forgetting how this thing works..Somebody help me.

Answer 1

That is what happens when 28 senators are out campaiging when the vote was held.

This link will describe how you can calculate how long it will take money to double: http://beginnersinvest.about.com/cs/21ju...

Answer 2

The rule of 72 will help you find in how much time will your money double. So you divide 72/ rate, rate as growth. So for example you have a growth rate of 10% and you want to know in how much time your money will double, so 72/10, which is approximately 7 years.

Answer 3

divide the interest rate of the investment into 72, and that will give you the number of years it will take for the investment to double.