Luca Pacioli

Luca Pacioli is considered the father of accounting. A friar living during the 1400’s and a mathematician, he developed the dual entry system of accounting and therefore is credited as the father of modern day accounting.

Rule of 72

rule of 72

A quick and easy way to determine the doubling of value for a given sum based on an interest rate is the Rule of 72. This simple formula has three factors. The first is the interest rate; the second is the amount of time in years to double the value and of course the number 72.

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