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What does the rule of 72 tell us? What is the formula used?
Amy heard Dave Ramsey say that she could expect an average of 12% returns when she invests in mutual funds. Amy has $10,000 to invest. How long will it take Amy’s investment to double?

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Answer:

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Divide 72 by the interest rate on the investment you're looking at. The number you get is the number of years it will take until your investment doubles itself.

Explanation:

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