The rule of 72 is used to estimate the time that it would take for your money to: quadruple grow to $$ \$ 1 $$ million double

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The **Rule of 72** is a simple formula used to estimate the number of years required to **double your investment** at a fixed annual rate of return.

**Here's how it works:**

$$
\text{Number of Years} \approx \frac{72}{\text{Annual Interest Rate (\%)}}
$$

**Example:**
- If you have an investment that earns **6%** annually:
  $$
  \frac{72}{6} = 12 \text{ years}
  $$
  It would take approximately **12 years** for your initial investment to double.

**Regarding Your Options:**
1. **Quadruple**: The Rule of 72 specifically estimates the time to **double** an investment, not quadruple it.
2. **Grow to \$1 million**: This is a specific financial goal and would require more complex calculations involving the initial investment amount, interest rate, and time. The Rule of 72 doesn't directly estimate this.
3. **Double**: **✓ Correct** – The Rule of 72 is designed to estimate the time it takes for your money to **double**.

**Summary:**
- The Rule of 72 is used to estimate the time it would take for your money to **double**.
The Rule of 72 estimates how long it takes for your money to double.

The rule of 72 is used to estimate the time that it would take for your money to: quadruple grow to \( \$ 1 \) million double

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