Aside from the famous E=mc2, that scientist Albert Einstein formulated, he also create the Rule of 72 that aims to help manage your financial income. Here’s how it works:
Step 1: How long does it takes to double your money?
This aims to help you determine how long it would take for your investment or debts to double. Just divide the number 72 by the percentage rate that you are paying in your debt and investment.
Saving Account: 500
Interest rate: 4%
72 divided by 4 is equal to 18. Therefore, you will have 36 months before your money doubles.
Step 2: How many times will money doubles?
Determine how long you will keep your investment before you withdraw it. And just divide it on the years/month (like the answer you figured out in step 1) that your money will double.
You can see that if you can make your investment double a few more times by making slightly better investments, you can end up with many times more money!
So, use the Rule 72 and figured out now how to make your investment double in just a short span of time!