wotw, heuristic

Means a quick rule of thumb. something you can use to approximate a result really quickly.

Means a quick mental shortcut.

Like if i asked you how long would it take my money to double at 8% annual interest?

My answer, in a flash would be 9 years.

How did I know that, so quickly?

Because I used a quick heuristic. The Rule of 72.

If I divide 72 by the rate of interest, I can quickly get a grasp of how quickly my money will double.