How long it will take for your money to double/divide the annual interest rate into 72.
Chat with our AI personalities
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.
Each step is nine less.
Leaving $1 dollar in the bank at 9% interest for 16 years