| Tool: Rule of 72 |
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| Go to: | http://www.moneychimp.com/features/rule72.htm (opens a new window) | ||
| Description: | The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years. This tool allows you to play with different interest rates and compare the results from the rule of 72 to the actual time it would take for you to double your money if it were invested at that rate. | ||
| Technology Type: | JavaScript | ||
| Author: | moneychimp.com | ||
| Language: | English | ||
| Cost: | Does not require payment for use | ||
| Average Rating: |
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| Support Material: | The Rule of 72 - Why it Works | ||
| Courses: | Algebra | Growth | |
| Algebra II | Growth and decay applications | ||
| Financial Education | Compound interest, Investments, Rule of 72, Saving | ||
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