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The rule of 72 is a fast way to estimate the number of years it will take you to double your money at a set interest rate.
The rule states that you divide the Interest rate by 72
Years required to double investment = 72 ÷ annual interest rate
If you want to calculate the period it will take to double your money, let us assume you get 10% interest per year:
72 ÷ 10(%) = 7.2 Years
The rule can also be used to find the amount of time it takes for money's value to halve due to inflation. If inflation is 6%
72 ÷ 6(%) = 12 years.
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