The Rule of 70 applies in any growth rate application.

The Rule of 70 applies in any growth rate application.  Let’s say you have $1000 in savings and you have three alternatives for investing these funds. How long would it take to double your savings in each of these 3 accounts?

·        A savings account earning 1.5 % interest per year

·        A U.S. Treasury bond mutual fund earning 3.5% interest per year

·        A stock market mutual fund earning 9% interest per year

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