profile image 60

The rule of 72 lot of info on how it relates to my previous comment.


I learned of the concept while studying for my my insurance license exam. Basically it is used to calculate compounding interest,to formulate investment strategies, By banks and insurance companies. The simplest way to understand is revealed in a brain teaser type question which you may be familiar with. Would you rather have 1 million dollars or 1 penny doubled every day for 1 month? Most people would take the million. Not a bank they they choose the option every time. Why ? Do the math. Not enough space here to give adequate example. Will send you another message with more info.

 

sort by best latest

TheGlassSpider profile image80

TheGlassSpider says

You can help the HubPages community highlight top quality content by ranking this answer up or down.

7 years ago
 |  Comment
profile image60

servingyah says

You can help the HubPages community highlight top quality content by ranking this answer up or down.

7 years ago
 |  Comment