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Show Notes
On more than one occasion, we've said that compound interest is great for savings, but terrible for debt. On today's show, Ted Michalos shares a simple math trick to help you easily calculate the impact interest has on the debt you carry.
The trick is called the Rule of 72.
You take the number 72 and you divide it by the interest rate that you're considering.
Why does this matter? We explain on today's podcast.