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Example # 1 demonstrates the Rule of 72. Take the numbers seventy-two and divide it by the percent of interest or rate of return of your investment to find how long it will take to double your money.
For example, if you put your money in a bank account, historically, your rate of return would be 3%. According to the Rule of 72, you will double you money every 24 years. (72 ÷ 3 = 24)
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Goal = $2
Capital = $1
Monthly deposit = $0
Interest rate = 3%
You'll reach your goal in 24 years
Then, you'll have $2.
Investment Gain = $1