Rule of 72
The Rule of 72 could be one of the defining moments of your life. Knowing about the Rule of 72 can get you interested in personal finance and investments. The rule of 72 is nothing but compounded interest expressed simply and mathematically.
The Rule of 72 will give you an quick ⚡ idea on how to double your money.
How you can use the Rule of 72 ?
If you divide the number 72 by the rate of interest, you get to know the number of years it will take for you to double the money. For example if the rate of interest is 9%, simply divide the number 72 by 9% and the answer is 8. Thus it will take 8 years to double your money if you invest at 9% pa. rate of interest.