Finding the Time in a Word Problem on Compound Interest | Precalculus | Study.com
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Finding the Time in a Word Problem on Compound Interest | Precalculus | Study.com
Learn how to find the time in a word problem on compound interest, and see examples that walk through sample problems step-by-step for you to improve your math knowledge and skills.
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Financial knowledge is power; Rule 72 is a simple formula created by mathematicians in the 15th century to estimate how long it takes your money to double. You divide 72 by the interest rate to get the number of years. Example: at 8 percent, 72 ÷ 8 = 9 years to double your money. Albert Einstein called compounding the 8th wonder of the world, and Rule 72 shows you exactly why. Learning this little tricks changes your mentality about money. | Claudinha Gadelha
Financial knowledge is power; Rule 72 is a simple formula created by mathematicians in the 15th century to estimate how long it takes your money to double. You divide 72 by the interest rate to get the number of years. Example: at 8 percent, 72 ÷ 8 = 9 years to double your money. Albert Einstein called compounding the 8th wonder of the world, and Rule 72 shows you exactly why. Learning this little tricks changes your mentality about money. | Claudinha Gadelha
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