The rule of 72 is used to determine the time that it would take for your money to double. O True False

Absolutely true! The Rule of 72 is a simple formula that allows you to estimate how long an investment will take to double, given a fixed annual rate of return. You divide 72 by your expected annual return rate (expressed as a whole number) to get the approximate number of years. For example, if you expect a 6% return, it would take about 12 years for your investment to double (72 ÷ 6 = 12). This handy rule isn’t just a financial trick; it's a practical tool for investors and savers alike! Whether you’re planning for retirement or saving for a big purchase, knowing how quickly your money can grow helps you make informed decisions. It encourages savvy investment planning and illustrates the power of compound interest in a fun way!