RULE OF "72"
Here is something that could easily be taught in schools, along with balancing a checkbook. As a life long student of Math I already knew this and have found it to be quite the conversation starter.
RULE OF "72"
I've always found the concept of compound interest fascinating!
The Rule of "72" basically calculates that your money will "double" at an exact point by dividing 72 by the % of interest!
72 - 1% interest = 72 years*
72 - 3% interest = 24 years
72 - 6% interest = 12 years
72- 9% interest = 8 years
72- 12% interest = 6 years
72 - 15% interest = 4 years, 10 months
* If you had invested $1,000 and received 1% interest, it would have grown to $2,000 in exactly 72 years.
This is especially important for young people. Time is on their side!
When looking for good investments, seek good counsel and consider Idaho Real Estate in this market! Now is the time to buy!
Always looking out for your next move...(sm) on Idaho Real Estate,
Nampa Idaho Realtor, Don Wixom RE/MAX Advantage (208) 880-5039
Comments(2)