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Do you know about the Rule of 72?

Writer's picture: Marie DemeneMarie Demene

It’s a quick way to see how long it takes your money to double. Simply divide 72 by your interest rate:

• At 1% (like a bank account), it takes 72 years to double your money!

• At 30% (like credit cards), you’ll be in debt for 2.4 years before paying it off.

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