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The Rule of 72 is also known as the “Old Bankers” rule because bankers have used it to work out how long any amount of money takes to double at a given interest rate.
In order to appreciate its importance in an investment scenario, you simply divide 72 by the rate of return you expect [...]

In my previous post I asked, which was the better investment option between a choice of £1,000,000 in 30 days or 1 pence now that doubles every second for the next 30 days.
The correct answer is option (b). This might come as a surprise to some because the option to receive £1,000,000 in 30 days [...]