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Rule of 72
Views: 358 The rule of 72 is an easy way to calculate how long it will take to double your investment. It is a mental shortcut that allow you to quickly estimate growth rate. We are concerned with growth rate of investments and debt. Rule of 72 and debt Rule of 72 shows how long it will take for your debt to double. Suppose your credit card debt is $1000 and the interest rate is 36% 72/36 = 2 years 72/24 = 3 years Your credit card interest rates tend to hover between 24% to 36% so the debt will …
