Question

according to the rule of 72, if you have $ 3,000 in an investment account and consistently earn an average of 6% interest, how long will it take your money in the account to double?

Answer 1

If you use the Regime of 72 formula, your calculation will look like this: 72/6 = 12. The above tells you that at a 6% annual rate of return, you can anticipate a return on your $100,000 investment in about 12 years.

How does Rule 72 calculate the rate of return?

The 72-hour rule is as follows. You multiply 72 by the expected annual return on your investment. The result is the approximate number of decades required for your money to double.

What exactly is the Rule of 72?

The Rule of 72 is a computation that estimates how long it will take to get double your money at a given rate of return.

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