"Surely it only takes just over 7 years to double at 10% compound"
Blimey, that sparked something from a long time back in my brain - "rule of 72"??? Divide the rate of interest into 72 and it will tell you how long it takes to double? eg pop of the world increasing by 2% a year will double in 36 years.......I think ;-)
No, that's depressing - my savings will double (in £s) by about 2153 but by then they will have halved in value 6x and I will be 203 years old! Better get spending!!
Last edited by: PhilW on Fri 8 Feb 13 at 18:29
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