Comments on: Einstein On Compound Interest (Rule Of 72) http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/ Investments + Editorials: Dissecting the good, the bad, and the ugly of investment / financial media! Thu, 04 Dec 2008 20:43:58 +0000 http://wordpress.org/?v=2.5.1 By: Jason http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-33277 Jason Sat, 03 May 2008 02:01:15 +0000 http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-33277 That is obviously a doctored photograph, just look at how grainy the rest of the picture is compared with the writing. The letters that are repeated are identical as is their relation to each other. Einstein did nothing to popularize compound interest. Banks did that well before Einstein was born. That is obviously a doctored photograph, just look at how grainy the rest of the picture is compared with the writing. The letters that are repeated are identical as is their relation to each other. Einstein did nothing to popularize compound interest. Banks did that well before Einstein was born.

]]> By: Bruce Arthur http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-33181 Bruce Arthur Fri, 21 Dec 2007 15:35:36 +0000 http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-33181 Interesting article on the "Rule of 72". If only Einstein had been involved. When I heard this as an Einstein quote years ago at a seminar I was skeptical. I've read a bit of Einstein and it just didn't sound like something he'd say. After a bit of research it appears to be an urban legend...or at least a financial services salesperson legend. There is no mention of this "quote" till an article in 1983. Einstein died in 1955. When you try to source the quote it always seems to end up as a quote on a financial services website but never in any article, essay, interview during Einstein's lifetime. Interesting article on the “Rule of 72″. If only Einstein had been involved.

When I heard this as an Einstein quote years ago at a seminar I was skeptical. I’ve read a bit of Einstein and it just didn’t sound like something he’d say. After a bit of research it appears to be an urban legend…or at least a financial services salesperson legend.

There is no mention of this “quote” till an article in 1983. Einstein died in 1955. When you try to source the quote it always seems to end up as a quote on a financial services website but never in any article, essay, interview during Einstein’s lifetime.

]]> By: John Walker http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-33119 John Walker Sun, 02 Sep 2007 12:01:47 +0000 http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-33119 Hi there, I want to include some of your observations in an eBook I am compiling, on getting rid of debt. I want to use the 'wonder' of Compound Interest ' as an inducement for readers to start saving! Can I direct them to your site? And if so, what do I put in my eBook as a URL, ? Thanks.. John Walker Hi there,

I want to include some of your observations in an eBook I am compiling, on getting rid of debt. I want to use the ‘wonder’ of Compound Interest ‘ as an inducement for readers to start saving!

Can I direct them to your site? And if so, what do I put in my eBook as a URL, ?

Thanks..
John Walker

]]> By: brendaashejacobs http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-18218 brendaashejacobs Wed, 04 Apr 2007 15:47:50 +0000 http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-18218 If you put 106,000.00 in the bank at 5% interest in Dec.17,1998 how much would the money earn by Mar. 15, 2007? If you put 106,000.00 in the bank at 5% interest in Dec.17,1998 how much would the money earn by Mar. 15, 2007?

]]> By: Vince Chan http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-1784 Vince Chan Tue, 03 Oct 2006 05:05:17 +0000 http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-1784 Wow, very interesting observation! BUT... I have not in all my research find a definition that the rule of 72 was meant to be applied by compounding monthly. Where did you get that assumption? I'd love to know! The formula was meant to determine how money years for money to double and so the unit of measurement that was mentioned was annually / yearly. What would really be the effect if we apply the compounding effect monthly with other rates? Wow, very interesting observation!

BUT… I have not in all my research find a definition that the rule of 72 was meant to be applied by compounding monthly. Where did you get that assumption? I’d love to know!

The formula was meant to determine how money years for money to double and so the unit of measurement that was mentioned was annually / yearly. What would really be the effect if we apply the compounding effect monthly with other rates?

]]> By: Jeremy Whittaker http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-1778 Jeremy Whittaker Sun, 01 Oct 2006 18:57:16 +0000 http://investorial.com/personal-finance/einstein-on-compound-interest-rule-of-72/#comment-1778 The following quote is not accurate please revise: "(Example: If you earn at 72% interest rate, your money does not double in 1 year. It takes 100% to do that!)" If your interest rate is 72% and your account compounds monthly or 12 times annually which most do. Then you will have exactly doubled your money in one year. The following quote is not accurate please revise:

“(Example: If you earn at 72% interest rate, your money does not double in 1 year. It takes 100% to do that!)”

If your interest rate is 72% and your account compounds monthly or 12 times annually which most do. Then you will have exactly doubled your money in one year.

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