Are you familiar with this? It says that in order to determine how many years it takes for money to double at a certain interest rate, you divide the rate into the number 72.
Consider the number 4%. 72 divided by 4 is 18. So if you drop a dollar in the bank today, you'd have two bucks at the end of 18 years.
Now consider these pairs of statements. Within each pair, which one makes you gasp?
A. "By 2030, the high school will need to hold nearly twice as many students as it does today!"
B. "Population growth is about 4%."
A. "During his two decades in office, Bill Brady's salary has risen from $37,000 to $74,000, while clamoring for more fiscal responsibility!"
B. "Bill Brady's pay, about $12 an hour in 1990, has kept pace with inflation since then."
If you answered something other than "none of the above" (since A and B are equal), then drop by with your checkbook would you? I've got a can't-miss investment deal for you.
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