Personal finance advisors sometimes use the "Rule of 72" to estimate how long it will take for an investment to double i

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Personal Finance Advisors Sometimes Use The Rule Of 72 To Estimate How Long It Will Take For An Investment To Double I 1 (36.1 KiB) Viewed 25 times

Personal finance advisors sometimes use the "Rule of 72" to estimate how long it will take for an investment to double if it earns a certain percent per year. The Rule of 72 says that the amount of time for an investment to double, in years, can be estimated by taking the number 72 and dividing by the percent it earns per year. 72 For example, if an investment earns 2% per year, then it will take 2 investment. Answer T Suppose an investment earns 3% per year. It starts with $7750 in the account. How long will it take for this investment to double? years 36 years to double the