Why didn’t I know about this? I’d love your feedback…
I found it in The Word For Today, published by Radio Rhema, and written by Bob and Debby Gass. It’s a tri-monthly pocket-sized booklet, with a thought provoking point of discussion and Christian Biblical references for each day.
When I read this, I mulled it over, and realised its usefulness in teaching children, of say seven plus, to understand the importance of saving; and to those of eleven plus – especially of thirteen plus, to help them calculate the increase of debt via loans, overdrafts or credit cards.
Hear it is, in a nutshell:
Take 72 and divide that by the interest rate,
to see how many years it will take for your savings or debt to double.
Really, yes, it is that simple.
At Color Accounting‘s site, you may learn it was know well before Einstein announced it.
“… nearly 400 years before Einstein’s birth, by Italian friar Luca Pacioli, in his 1494 book Summa de arithmetica geometria, proporzioni et proporzionalita, a guide to arithmetic, algebra, geometry, accounting and weights and measures…”
Regardless of who created it, the Rule of 72 seems to be crying out for a place in our schools.
Tell me when you first learned of it, and/or whether your schools include it, or should.