1. The Rule of 72 - Your Quick Doubling Guide
One effective approach to understanding compound interest is the Rule of 72, a quick guide to estimating investment growth. The formula is simple: divide 72 by the annual interest rate to determine the number of years it will take for your investment to double. For example, with an 8% return, it would take approximately 9 years for your investment to double (72 ÷ 8 = 9).
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