AI Is Magic: The Rule of 72
Let's see what AI has to say about the rule of 72:
The rule of 72 is a quick and easy way to estimate the amount of time it will take for an investment to double in value at a given interest rate. To use the rule of 72, you divide the number 72 by the annual interest rate of the investment. The result is the number of years it will take for the investment to double in value.
For example, if you have an investment that earns an annual interest rate of 8%, you can use the rule of 72 to estimate that it will take about 9 years (72 / 8 = 9) for the investment to double in value.
The rule of 72 is a rough estimate and is not completely accurate, as it does not take into account the effects of compounding or other factors that can impact the growth of an investment. However, it can be a useful tool for quickly getting a rough estimate of the time it will take for an investment to grow.
The above was authored by AI from openai.com
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