Investing - The Rule of 72
Once you invest it, your money will grow, thanks to the phenomenon of compound interest. Here's a handy way to remember how it works.
The number 72 is a magical number. Divide 72 by your annual investment return. You'll end up with the number of years it will take to double your money.
Say you earn 6% on your CSB. Divide 72 by 6. You get 12. It will take 12 years to double your money.
If you earn 20% on your money, you'll double it every 3.6 years.
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