Double your money…..Rule of 72

Posted by Dan Sato on August 7, 2009

You will double your money at a 8% annual rate of return in just 9 years.  The “Rule of 72″ says,  take an interest rate and divide it by 72 and the result will be how many years it will take to double your money (includes compounding).  Example: Your investment yields 8% annual returns.  Take  72 and divide it by 8 and the result is 9 years.  Your money will double in 9 years!   Start saving….enjoy the ride.