most haitian put they hard earn money in a saving account which they less than 1% or cds for period of time.the bank will never tell us about the rule of 72 .this rule show how money multiply during an amount of period and where to put your money .do we hatian ever wonder how the rich is getting rich it is because they know the power of compounding interest. rich people put their money in mutual funds were they earn a higher return on the money.why do we always see the banks ceo getting these huge amount of money when they left post and how about the huge office building.when we put money in the bank the bank invest our money in the global economy and getting return of almost 10- 12% on our money and gave us the bread crumbs to us. people wake up
Do you know the Rule of 72 and how it works? The Rule of 72 is an easy way to approximate how long it will take your savings to double. Just divide 72 by the interest rate you earn to determine the number of years it will take your money to double. It shows the way money can grow so much faster with a higher rate of return.*
By using the Rule of 72, you can see why it pays to fight for every extra percentage point of interest you can get. Once you know your rate, use the Rule of 72 to compute how fast YOUR savings will double!
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