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Thu 3 Sep, 2015 04:49 pm
Use the Rule of 72 calculator. Enter 3% with an initial investment of $2000 in the first box. Enter 3% and the initial investment of $2500 in the second box. How much more will you make after 55 years by investing an extra $500 initially?
@triasimmons,
You are supposed to use the Rule of 72 calculator. Do you have it? At 3%, the doubling time from the rule of 72 is 24 years. That means that $500 will become $2448.
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