Compound Interest and the rule of 72

Compound interest is the amount of money you arew able to make over the years being depended on the amount of interest the company makes. Of course over the years the deposit you have made increases over the years. For instance, if you deposit $200 dollars, and the interest rate of the company is 10%, in a year your your money would have increased into $210. The longer you keep the money in there, the more you will gain.

The rule of 72 is is a rule stating that in order to find the number of years needed to make your money doubled at a certain interest rate, you have to divide the compound interest into 72. The answer will be the number of years that it will take your investment to double.