Final answer:
The Rule of 72 is an approximation used to estimate the number of years it will take to double an investment or money at a given annual interest rate.
Step-by-step explanation:
The Rule of 72 is an approximation used to estimate the number of years it will take to double an investment or money at a given annual interest rate. To use the Rule of 72, divide 72 by the annual interest rate. The result will be an approximation of the number of years it will take for the money to double.
For example, if the annual interest rate is 5%, then using the Rule of 72, it will take approximately 14.4 years (72 ÷ 5) to double the money.