What does the rule of 72 tell us? What is the formula used?
Amy heard Dave Ramsey say that she could expect an average of 12% returns when she invests in mutual funds. Amy has $10,000 to invest. How long will it take Amy’s investment to double?

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01-02-2022
Business

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What does the rule of 72 tell us? What is the formula used?
Amy heard Dave Ramsey say that she could expect an average of 12% returns when she invests in mutual funds. Amy has $10,000 to invest. How long will it take Amy’s investment to double?

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24nhendrix 24nhendrix · Answer 1 · 2022-02-01T14:59:53+01:00

Answer:

Image result for What does the rule of 72 tell us? What is the formula used? Amy heard Dave Ramsey say that she could expect an average of 12% returns when she invests in mutual funds. Amy has $10,000 to invest. How long will it take Amy’s investment to double?

Divide 72 by the interest rate on the investment you're looking at. The number you get is the number of years it will take until your investment doubles itself.

Explanation: