31 March 2023
Genistar
Financial Education
Have you ever heard of the financial concept called the rule of 72?
It’s a very interesting and useful principle, which has been around for about 400 years. And it’s even said that Albert Einstein called it the eighth wonder of the world.
With compound interest, you can use the rule of 72 to show how long it takes for your money to double at a certain interest rate: You simply take the number 72 and divide it by your interest rate. This will show you approximately how many years it will take for your money to double.
72 ÷ %
72 divided by your interest rate equals the number of years it will take for your money to double.
Watch this video to learn:
How you can use this simple rule to calculate the number of years it will take to double your money at a given interest rate.
Why you should start investing as soon as possible.
How getting a better rate of return can make a big difference.
About the authors
Our mission is to teach people how money works. We help you gain the knowledge you need to make smarter, more informed choices along the path towards your financial goals.
Get our Free Financial
Freedom E-Book
Claim your free pdf E-book and
sign up for our monthly newsletter
Latest Articles
Debt Solutions
Getting Out of Debt: Snowball vs. Avalanche Method
14 Mar 2021
Money saving Copy
Tell Us What You Think for a Chance to Win
Your opinion matters to us! You could win a £50 Amazon gift e-voucher for taking a short customer satisfaction survey. Open to all Genistar clients.
19 Jan 2024
Money saving
Money-Saving Tips for Winter
As the weather turns cold, it takes more energy to keep your home warm and your expenses go up.
19 Jan 2024
Genistar Awards
Genistar Wins Vitality Firm of the Year Awards 2023
At the recent Vitality Exclusive Agreement Conference, Genistar was the proud recipient of three awards.
19 Jan 2024