Compound Interest Rule of 72
Benjamin Franklin once said "Money makes money. And the money that money makes, makes money."
Compound interest means earning interest on your interest-you can use the Rule of 72 to approximate how long it will take for an investment to double at a given interest rate. It comes in handy for comparing investments or hitting your savings goals and retirment goals.
Check out the video below or infographic to see how easy it is to understand and use this classic financial rule.