Quote:
Originally Posted by Slava
Oh Sorry, I thought that you knew how it worked but just started with 70 instead of 72.
Basically the rule is that if you divide 72 by the rate of return it tells you how long it takes to double your money. If you divide 72 by the number of years it tells you rate of return required to double your money in that period.
In other words at 7.2% per year it will take 10 years to double your money. To double your money in 2 years you need a return of 36% per year and so on.
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Oh no no. I understand it, I was just mocking your correction of 72 instead of 70. I wasn't asking details, I was more saying your attention to details... stupid internet.