#nonfinance — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #nonfinance, aggregated by home.social.
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welcome back ladies and gentlemen this is your friend which alter curve on Finance tube today’s topic of discussion rule of 72 what is rule of 72 72 is a magic
number which can make you rich don’t believe me let me tell you what it does rule of 72 very quickly tells you that how fast your money will double if you invest if I were to tell you technically let me give you a formula so rule of 72 says n is equal to 72 divided by R now n here is number
of years double your money and our is the rate of return that means that means if you have invested money in let’s say a fixed deposit which gives you 8% return in that case applying rule of 72 you will get n is equal to 72 by 8 which is nothing but 9 years so if you remember in my previous
CashNews.co I told you that in our times FD takes 9 years to double I applied rule of 72 now the idea is that if we had some instrument where we can put our money not at 9% not at 8% but at more you will see how magic happens so you see friends rule of 72 is a magic number which tells you the
number of years in which you will double your money now assume that you are able to invest money at 24 percent what will happen when I apply rule of 72 72 divided by 24 so your money will double in three years if every three years your money doubles you will be able to get rich faster now the idea
is that many a times many financial consultants will come and tell you that if you give me so much money I will double it in so many years if you are told that your money will double in so many years and if you want to find out rate of interest you can always do so again applying rule of 72 how
very easy you change positions here you will get R is equal to 72 divided by n that means if you have a consultant who comes and tells you that boss my money will double in 18 years then in that case what is your rate of return our is equal to 72 divided by 18 R is nothing but 4 so you see friends
it is very important for you to understand how money works it takes 18 years for money to double in a saving account because saving account gives you 4 percent and in every it takes 9 years but if you can find any investment which could give you 24 percent then your money will double in 3 years
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#Easy #Money #Finance #NonFinancehttps://cashnews.co/finance/easy-way-to-make-money-finance-for-non-finance-finance/