Math Definitions - Letter R
Chapters
Rule of 72
Definition of Rule of 72
The Rule of 72 provides an estimate of how long it takes to double the value of your investments.
To apply the Rule of 72, you divide \(72\) be the interest rate at which your investment was made. This gives you the number of years that it will takes for your investment to double.
For example, the Rule of 72 tells you that
- Money invested at an annual interest rate of \(6\%\) will take \(72 \div 6 = 12\) years to double.
- An investment with a rate of return of \(9\%\) will take \(72 \div 9 = 8\) years to double.
Description
The aim of this dictionary is to provide definitions to common mathematical terms. Students learn a new math skill every week at school, sometimes just before they start a new skill, if they want to look at what a specific term means, this is where this dictionary will become handy and a go-to guide for a student.
Audience
Year 1 to Year 12 students
Learning Objectives
Learn common math terms starting with letter R
Author: Subject Coach
Added on: 5th Feb 2018
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