How long it will take for your money to double/divide the annual interest rate into 72.
Both are used to calculate the doubling period of an investment. However Rule of 69 is considered to be a more accurate way of calculating the doubling period Hope it helps
Benjamin Franklin came up with this equation.
the number of years it takes for your money to double can be estomated by dividing 72 by the annual percentage interest rate.
Multiply each value by 6.
determining how many years it takes for money to double at a particular interest rate
The best definition for 72 is the number before 73 and after 71.
No unless you made an extremely rare deal where you did not purchase the car "As Is"
Rule of seventy two is used to ascertain the period by which an investment would grow by 100%. 72 divided by rate of interest would provide the approximate period by which the investment would become double. As an example, if the rate of interest is 6% per month, the investment would be doubled in ( 72/6) 12 months. Rule of 72 thus is an important tool to know the investment horizon.
Albert Einstein
72 years
The rule of 72 is a quick and very accurate method of determining how long it takes for money to double at a specified rate of interest, compounded annually. For example, using the rule of 72 with a compounded interest rate of 6% it would take 12 years to double your money (72 divided by 6). The precise amount of time it takes to double your money at 6% based on the actual computation of compounded interest is 11.9 years. The rule of 72 works very well unless the rate of interest exceeds 20% at which point the error rate starts to deviate substantially from the actual answer. The rule of 72 can also be used to figure out what rate of interest you need to double your money in a specified number of years. For example, if you want to double your money in 5 years, divide 72 by 5 and the interest rate needed is 14.4%.
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
How long it will take for your money to double/divide the annual interest rate into 72.
As a general rule.....72 hours.
About 18 years.
Both are used to calculate the doubling period of an investment. However Rule of 69 is considered to be a more accurate way of calculating the doubling period Hope it helps