Economy
How to estimate when debt will double
HERE’S THE INTERESTING PART
If you want to know exactly how fast an interest rate will ruin your life, there is a simple, depressing mathematical shortcut. Dividing the number seventy-two by your annual interest rate tells you exactly how many years it takes for your balance to mathematically clone itself. It is a quick mental trick used equally by thrilled savers and utterly terrified borrowers.
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