Ever wonder how long it will take to double your money at any given interest rate?

The number 72 provides a handy simple way to get the answer.

Just divide the number 72 by the interest rate {assuming that the interest rate is compounded annually}

For example; 72/8 = 9 At an 8 percent interest compounded annually it will take 9 years to double your money .

72/5 = 14.4 years to double your money at 5 percent interest. (depressing isn't it?)

## Friday, October 26, 2007

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