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Einstein remarked that compound interest is the 8th wonder of the world. The right combination of interest rate and time can create untold wealth and prosperity for an individual or family.
The Rule of 72 says that if you divide the number 72 by the interest rate, you will approximate the number of years that it will take to double your original amount. For instance, if the interest rate is 8%, it will take approximately 9 years to double your money.
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