👉 Mate math, also known as the "rule of 72," is a simple yet surprisingly effective method for estimating how long it will take for an investment to double in value based on the interest rate or growth rate of the investment. The formula is 72 divided by the annual interest rate (or growth rate) to get the approximate doubling time in years. For example, if an investment grows at 6% annually, it would take about 12 years for it to double. This rule works because it leverages the power of compound interest, where growth is applied not just to the initial principal but also to the accumulated interest over time, accelerating the doubling process. It's a handy tool for quick financial planning and understanding the potential growth of investments without needing to delve into complex calculations.
