Leaving $1 dollar in the bank at 9% interest for 16 years
How long it will take for your money to double/divide the annual interest rate into 72.
It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.
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.
Leaving $1 dollar in the bank at 9% interest for 16 years
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.
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%.
Albert Einstein
72 years
Rule of 72 is a method that you can use to estimate the time your investments will double.I will give you the formulas and examples of how to apply them1) 72/interest=years2)72/years=interestExample 1: An investor is earning an interest of 10%. How many years will it take for her investments to double.Solution: 72/10= answerExample 2: An investor wants to double her money in 9 years, at what rate of interest must she earn for her investment to double in 9 years?Solution: 72/9=answer
72
Because of a 72 year rule, the decennial census of 1790 would have been published in 1862.
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
5184
You would have to use 2 stamps to get a small envelope from Florida to Canada. If you do not want to use stamps, you can take it to the post office and it will cost roughly 72 cents to mail it.
How long it will take for your money to double/divide the annual interest rate into 72.