If you deposit money today into an account that pays 6.5 perecent interest, how long will it take you to double your money?
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If you deposit money today into an account that pays 6.5 perecent interest, how long will it take you to double your money?
This is the rule of 72. Divide 72 by the interest rate (6.5) and you get a little over 11 years.
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