It is called the rule of 72. You take the interest rate you will be receiving and divide that number into 72. the answer will be the number of years it will take you to double your money at that interest rate.
How long it will take for your money to double/divide the annual interest rate into 72.
Solve, using the Rule of 72 rate = 4%, years = 18, fv=$8,000. Solve for PV. Formula: PV = $1/(1+r) t PV = $8000/(1+.04) 18 PV = $8000/2.0258 3949.03 = $8000/2.20258
formula- a rule or principle, frequently expressed in algebraicsymbols.
Benjamin Franklin came up with this equation.
The best definition for 72 is the number before 73 and after 71.
It is called the rule of 72. You take the interest rate you will be receiving and divide that number into 72. the answer will be the number of years it will take you to double your money at that interest rate.
Albert Einstein
72 years
A Formula
it is a formula
Formula
The Girl's Guide to Depravity - 2012 Rule 72 The Unavailable Rule 1-10 was released on: USA: 30 March 2012 Japan: 15 September 2012
72/A in its simplest form is 72/A, and that is all it ever can be, unless we have a formula that tells us what number 'A' is equal to.
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How long it will take for your money to double/divide the annual interest rate into 72.
Solve, using the Rule of 72 rate = 4%, years = 18, fv=$8,000. Solve for PV. Formula: PV = $1/(1+r) t PV = $8000/(1+.04) 18 PV = $8000/2.0258 3949.03 = $8000/2.20258