How many years will it take to double your money?
Double Your Money Calculator: How long would it take to double your money in a bank savings account, a mutual fund investment or an existing stock portfolio?
Interesting Trivia: Rule of 72
Did you know that one of Albert Einstein’s greatest discovery was the Rule of 72? He states that any number divided by its corresponding interest rate, would generate the number of years it would take before the said amount doubles.
Use this calculator to determine the number of years it would take before your money doubles:
Note: Please input a whole number in the Interest Rate field (eg. 1%, 2%, 3%, 4%, 5%). Placing a decimal number might generate an inaccurate calculation
Did you try it out?
Naturally, a lower interest rate just shows that you will have to wait a very, very long time before your money grows significantly.
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A note from the financial blogger:
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