…so how fast can I double my investment and can someone please explain the Rule of 72 in a simple way….for dummies?

…here is the explanation that you are looking for, and you can find some really nifty calculators HERE…

…I think we all know that money grows faster at higher interest rates yes?

…so if we are going to put money in a savings account or a bond, we want to have the highest rate possible (in this rate environment it will probably be around 2% max)…

…now, if we owe money, we want to lowest rate possible, so that we can pay the least amount of interest…

…however, did you know that there is a rule that allows you to calculate how many years it will take for your money to double and a certain interest rate?