This handy formula allows you to judge the power of compound interest. The rule of 72 shows how much time it takes for your investment to double in value at a given percentage rate.
To use the formula, divide 72 by your interest rate. The result you get is the number of years it will take for your investment to double in value. So if you invest $1,000 and you get an investment return of 5%, you can divide 72 by 5% to determine when your money will double. In this example, it would take 14.4 years (72 / 5%) before your $1,000 investment doubles.
Other Examples:
72 / 8% = 9 years
72 / 6% = 12 years
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