Storyboard on Rule of 72

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Storyboard Text

  • Bank
  • Just got $5 for mowing a lawn!
  • Bank
  • Sure!
  • You could save that. Let's head down to the Bank.
  • Now when you put money in a bank, they give you a certain amount of money per month for holding it there, it's called interest.
  • Bank
  • Free money? Far out!
  • Lay it on me, Man!
  • There's this cool rule called the rule of 72. This will tell us how long it takes to double your money just because of the interest!
  • I'm pickin' up what you're layin' down man.
  • It works like this. You take 72 and divide it by the interest rate. Then, you'll know how many years it'll take to double.
  • So if we put this in now, at a interest rate of 6%, it'll take 72/6=12. 12 years to double, up to $10!
  • Dy-no-mite!
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