highlights
Today we will tell you a special method.
That gives you an idea.
Because in how many days will your money double?
New Delhi. When someone thinks about investing their money somewhere, the first thing they think about is how much return they will get or in how many days their money will double. By the way, the doubling of your money depends on how long you invest and how much interest or return you receive for it. But with the trick we’re going to tell you today, you can find out how long it takes your current investment to double.
A small and simple rule can be used to estimate the time in which the current investment will double. It is also called Rule 72. This rule gives a rough idea of doubling the money. So let us know what this rule even is.
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What is Rule 72?
Rule 72 is a very simple formula that very few people are aware of. Using this rule, you divide the interest you receive on your investment by “72”. This will give you an idea of how many days your money will double. Rule 72 gives a rough idea.
In how many days will FD money double?
Suppose you have a fixed deposit with a bank at an interest rate of 6.25 percent per year. In this case, it takes about 11 years for your money to double. Now you’re going to say: How did you come to realize that it’s going to take 11 years? To do this, understand this short and very simple math. To do this, you need to divide the available interest rate by 72, which is 6.25. Dividend yield will be 11.52 years from now.
how much to invest
How much do you have to invest if you want to double your money? Now, if you make slight changes to this formula, you can find that out too. How much do you have to invest in a set period of time to double your money? Now let us know that too. If you want to double your money in 3 years, then you should see a return of about 21 to 24 percent (72/3 years) each year, only then will your money double. If you want to double your money in 5 years, you should earn at least 14.4 percent (72/5) interest each year. If the money is to be doubled in 10 years, annual interest of around 7.2 percent would have to be collected.
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Tags: Bank FD, FD prices, fixed deposits, Here you can get good interest on FD
FIRST RELEASED : June 06, 2023
