Spring Forward… Money Management Tips – Day 18
An easy way to see how long it will take for your savings to double is called the “Rule of 72.” The formula doing a calculation is: 72 divided by the interest rate equals the number of years it will take for your money to double. For example, at an average annual return of 7%, a sum of money will double in about 10 years. Learn more about saving and investing: http://bit.ly/fWpOBu.
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