The Rule of 72 (2007)

Re:The Rule of 72 (2007) by nailer on Thursday June 23, 2016 @01:16PM (#11962693)

I think you might be right and I was wrong, or at least didn't put it correctly.

Compound interest should be taught in terms of examples people will likely use. So when they first get a credit card offer at a certain %APR, or a chance to invest, they immediately pull out law of 72 and do some quick estimath.

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Re:The Rule of 72 (2007) by grahamburger on Thursday June 23, 2016 @01:40PM (#11962924)

I can't speak for anyone else, but in my case at least, that's how it was taught. I remember the teacher going through problems on the chalkboard - "you want that brand new stereo for 150$ (This was the nineties) and you decide to put it on your credit card and then make the minimum payments. What's that stereo actually going to cost you?"

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