This is a simplified calculation on how long do I need to double my invesment. Just divide 72 with the expected interest every year . I am assuming the interest is constant all the time which is very unlikely.
The result as follows;
Interest Rate-Years
3% -24 years
4% -18 years
5% -14.4 years
7% -10.3 years
8% -9 years
10% -7.2 years
20% -3.6 years
Interesting right? I have no idea where 72 is coming from. But the calculation does give a good estimate.
The result as follows;
Interest Rate-Years
3% -24 years
4% -18 years
5% -14.4 years
7% -10.3 years
8% -9 years
10% -7.2 years
20% -3.6 years
Interesting right? I have no idea where 72 is coming from. But the calculation does give a good estimate.
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