The Rule of 72 basics:
To determine how long it will take your money to double, divide 72 by your interest rate percentage earned. For example, say you have a CD paying 8% (hey, it could happen!). 72 divided by 8 is 9....it will take 9 years for your money to double.
Check out this interest rate calculator to see how much money you will have at a given interest rate, how long it will take that money to double, and even how long it will take you to reach a given financial goal! Very useful!
http://www.moneychimp.com/features/rule72.htm
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