One of the quickest ways to teach your children about financial responsibility is to teach them the famed rule of 72. Remember the rule of 72 is an approximation but it s a remarkably accurate one we can use with confidence for our rule 1 calculations.

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Rule of 72 worksheet. Doug invested 2 500 into a certificate of deposit earning 6 5 0 interest. How long will it take to double doug s investment. The rule of 72 is a shortcut to estimate the number of years required to double your money at a given annual rate of return.

According to the rule of 72 how often will an individuals investment double. Both parents and kids should learn this little rule of saving and investment. How the rule of 72 works.

The rule of 72 formula is calculated by multiplying the investment interest rate by the number of years invested with the product always equal to 72. The exact number of years it takes to double once at a 24 growth rate is 3 2 years which is to say that the rule of 72 is very accurate around 10 but gets less accurate the farther from 10 we go. Worksheet will open in a new window.

Interest rate actual years rule of 72 1 69 66 72 00 2 35 00 36 00 3 23 45 24 00 4 17 67 18 00 5 14 21 14 40 6 11 90 12 00 7 10. Rule of 72 key 1. Once you find your worksheet click on pop out icon or print icon to worksheet to print or download.

Rule of 72 worksheet free printable reading with questions for grade 7 12 economics pdf file. This table illustrates just how close the rule of 72 is to the actual doubling time. Use this interactive quiz and worksheet to test your knowledge of the rule of 72 in finance.

Nd the accurate doubling time the rule of 72 is useful for mental calculations or when only a basic calculator is available. 72 11 6 5 years 3. The printable worksheet can serve as a study guide.

72 6 5 11 years 2. Applying a little bit of algebra we can rearrange the rule of 72 equation to calculate the number of years required to double your money with a given interest rate compounded annually. Children learn best when their parents are good examples of planning for the future and putting their money to work.

The rule states that you divide the rate expressed as a. For example the rule of 72 states that 1 invested at an annual fixed interest rate of 10 would take 7 2 years 72 10 7 2 to grow to 2. The average stock market return since 1926 has been 11 0.

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