Asked by T
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/
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/