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Rule of 70 - How Long Does it Take For Money to Double

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First published at 23:52 UTC on June 17th, 2020.

#math
#investments
#retirement

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This is a very handy tool for figuring out how long money takes to double

If your bank pays 1% interest, annually, it takes 70 years to double

If they pay 0.5% interest annually, then it takes 140 years to double

If they pay 0.3% annually, it tak…

This is a very handy tool for figuring out how long money takes to double

If your bank pays 1% interest, annually, it takes 70 years to double

If they pay 0.5% interest annually, then it takes 140 years to double

If they pay 0.3% annually, it takes 233 years to double

If you have an investment that pays 10% annually, you double your money in 7 years and if you get 7% annually, it takes 10 years to double your money

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Category	Education
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