Financial management

If you deposit money today into an account that pays 6.5 percent interest, how long will it take for you to double your money?


You can get a pretty good estimate by using the Rule of 72.

Divvied 72 by 6.5 to obtain your answer.


The formula depends on when the interest is compounded or not.

http://cs.selu.edu/~rbyrd/math/regular/

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