Term Of The Day - Rule Of 72
What Does it Mean?
A way to estimate the number of years it takes for a certain variable to double. The rule of 72 states that in order to estimate the number of years for a variable to double, take the number 72 and divide it by the growth rate of the variable. This rule is commonly used with an annual compound interest rate to quickly determine how long it would take to double your money.
September 26th, 2009 at 9:53 am
How much money should you plan on spending on a 10 day European vacation?
October 9th, 2009 at 2:44 am
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