Quick post just to give everyone a quick estimation method for figuring out how long it takes money to double. It is called the "Rule of 70" and this is how it works.
1) Take an interest rate (say 5%)
2) Divide that into 70 (70/5=14)
3) The number you receive is roughly how long it will take in years for your money to double at that interest rate or rate of return.
In this case at an interest rate of 5% your money will double in about '14' years. This is a quick, often impressive, method that can be used to ballpark how many years it will take your investment to double.
For our math nerds the method comes by taking the natural logarithm of two. This gives you '.7' which is where the '70' integer is derived from. In other words if you wanted to see how long it would take your money to triple simply take the natural logarithm of three and multiply by ten. Then you have the "Rule of 110," to divide your interest rate into and find how long it will take your money to triple!
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