Originally created by mathematician Luca Pacioli in 1494, the Rule of 72 is a simplified way to determine how many years it ...

By applying a mathematical formula consisting of variables such as payment amount, the discount or interest rate and the number of payment periods, it’s possible to know at the beginning of the ...

That’s because the effective interest rate also considers the effect of compounding. We’ll provide the formula later in the article. Currently, all financial institutions in Singapore are required by ...