This formula looks more. T number of years for which investment is done 3 years. Compound interest leads to the Rule of 72 a quick useful formula that is popularly used to estimate the number of years required to double the invested money at a given annual rate of return.
Compound Interest P 1 r t P where.
A 5000 1 010 1 13. R rate of return 10 compounded annually. M number of the times compounded annually 1. T number of years for which investment is done 3 years.