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I think I have shared this earlier but since it’s a new year and people will be working their financial goals for the year, I thought it’s a good time to refresh the #Rule72 .
If you find it useful and believe like me that’s it’s #TooGoodNotToShare kindly retweet ...
If you find it useful and believe like me that’s it’s #TooGoodNotToShare kindly retweet ...
#WhatIsRule72
In personal finance, if we divide the number 72 by the rate of interest, we do get to know the number of years it will take for us to double the money.
For example if the rate of interest is 9%, simply divide the number 72 by 9% and the answer is 8.
In personal finance, if we divide the number 72 by the rate of interest, we do get to know the number of years it will take for us to double the money.
For example if the rate of interest is 9%, simply divide the number 72 by 9% and the answer is 8.
Thus it will take 8 years to double our money if you invest at 9% p.a. rate of interest.
We can use this rule in reverse to know the rate of interest needed to double our money to achieve our set goal.
If we have 2.5 lakhs today and you need 5 lakhs in 5 years.
We can use this rule in reverse to know the rate of interest needed to double our money to achieve our set goal.
If we have 2.5 lakhs today and you need 5 lakhs in 5 years.
