Nice.
Similar rule of thumb I find handy is 70 divided by growth rate to get doubling time implied by a growth rate. I find it way easier to think about doubling times than growth rates.
E.g. 3% interest rate means 70⁄3 ≈ 23 year doubling time.
Known as Rule of 72
Nice.
Similar rule of thumb I find handy is 70 divided by growth rate to get doubling time implied by a growth rate. I find it way easier to think about doubling times than growth rates.
E.g. 3% interest rate means 70⁄3 ≈ 23 year doubling time.
Known as Rule of 72