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The Rule of 72

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Have you ever heard of the Rule of 72? Did you know that it was actually discovered by Albert Einstein?

What is the Rule of 72?
The Rule of 72 is a basic way of illustrating the power of compound interest. The rule says that if you divide 72 by the interest rate, you'll get the number of years required for your money to double. For example, if an investment such as a mutual fund grows at 12% average interest rate, it would take six years for your money to double (72/12 = 6).
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