Rule of 72

This is going to be a short but very sa-weet post. Well, I had no idea about this little formula but it's really cool when you are planning investments. Here it is:

72/interest rate =

Years to double your money

For example, let's say you get 2% (interest rate) on a certificate at your financial institution.

72 / 2 = 36

So, it will take 36 years for that money to double.

Pretty cool, eh? It does help you see how your money can work for you. Have a great Monday!