Write an article based on this "Let R x T = 72. Enter the value of T. Solve for R."
R is the rate of growth (the interest rate), and T is the time (in years) it takes to double any amount of money. For example, let's say you want to double your money in ten years. What interest rate would you need in order to do that? Enter 10 for T in the equation. R x 10 = 72. Divide both sides by 10 to get R = 72 ÷ 10 = 7.2. So you will need an annual interest rate of 7.2% in order to double your money in ten years.