Search results
Results from the WOW.Com Content Network
The Rule of 72 is a mathematical shortcut used to determine the time it takes to double ... such as 0.07 for 7 percent. It should just be the number 7. So, for example, 72/7 is 10.3, or 10.3 years.
In wanting to know of any capital, at a given yearly percentage, in how many years it will double adding the interest to the capital, keep as a rule [the number] 72 in mind, which you will always divide by the interest, and what results, in that many years it will be doubled. Example: When the interest is 6 percent per year, I say that one ...
Using the Rule of 72, your money should double every 10.3 years. So, by age 45, you should have around $200,000 in retirement savings. By age 55, you should have around $400,000.
For premium support please call: 800-290-4726 more ways to reach us
Optimal stopping problems can be found in areas of statistics, economics, and mathematical finance (related to the pricing of American options). A key example of an optimal stopping problem is the secretary problem.
In statistics, the 68–95–99.7 rule, also known as the empirical rule, and sometimes abbreviated 3sr, is a shorthand used to remember the percentage of values that lie within an interval estimate in a normal distribution: approximately 68%, 95%, and 99.7% of the values lie within one, two, and three standard deviations of the mean, respectively.
This page does not explain how or why the rule of 72 works. I hear about it, but can not find an explanation of it. Why is the number 72 ? thank you. 208.240.243.170 00:21, 19 May 2007 (UTC) Rule_of_72#Derivation Fintor kindly provided a pointer to the formulae which yield the solution 69.3~. This is pretty close to 72.
What links here; Related changes; Upload file; Special pages; Permanent link; Page information; Cite this page; Get shortened URL; Download QR code