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How Compound Interest Can Make Money Grow On Trees

04 Jul

You can find out how long it will take your money to double in a compound interest account by applying a very simple calculation. Take the interest rate you’re earning for your money and divide it into 72. For example, if you’re earning four percent interest, you would divide four into 72 and learn that it will take 18 years to double your money. If your money is in an account that pays six percent compound interest, it would take 12 years to double your money.

via How Compound Interest Can Make Money Grow On Trees – Your Modern Living.

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Posted by on July 4, 2011 in think

 

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