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An early reference to the rule is in the Summa de arithmetica (Venice, 1494. Fol. 181, n. 44) of Luca Pacioli (1445–1514). He presents the rule in a discussion regarding the estimation of the doubling time of an investment, but does not derive or explain the rule, and it is thus assumed that the rule predates Pacioli by some time.
The Rule of 72 works best in the range of 5 to 10 percent, but it’s still an approximation. To calculate based on a lower interest rate, like 2 percent, drop the 72 to 71. To calculate based on ...
This "Rule of 70" gives accurate doubling times to within 10% for growth rates less than 25% and within 20% for rates less than 60%. Larger growth rates result in the rule underestimating the doubling time by a larger margin. Some doubling times calculated with this formula are shown in this table. Simple doubling time formula:
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.
In the exact formulas, especially when using logs, it is standard to use the decimal form so I didn't want to change these - and I certainly didn't want to change the topics title formula to be "The Rule of 0.72"! Prefacing each formula to indicate whether the rate is a decimal or percent seemed too clumsy, so I left everything as is.
The rules for SEPPs are set out in Code section 72(t) (for retirement plans) and section 72(q) (for annuities), and allow for three methods of calculating the allowed withdrawal amount: Required minimum distribution method, based on the life expectancy of the account owner (or the joint life of the owner and his/her beneficiary) using the IRS ...
25 years from publication (photographic pictures and cinematographic films and other audiovisual works; works published under unknown pseudonym or anonymously) [217]: s. 13(3)(a), (c) Suriname: Life + 50 years [218] 50 years from publication (anonymous or pseudonymous work) (art. 39) Yes Sweden: Life + 70 years [219] Yes [219] Switzerland
They have a layout of the MRZ with two rows of 36 characters each, similar to the TD3 format, but with 31 characters for the name, 7 for the personal number and one less check digit. Yet some official travel documents are in the booklet format with a TD3 identity page. The format of the first row for ID-1 (credit card size) documents is: