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How long will it take to double your money if it grows at 12 percent annually?
Wiki User
∙ 9y ago
Six years at 12%
Wiki User
∙ 9y ago
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Is it true that it will take money in savings 14.2 years to double at 5 percent interest compounded annually?
Yes, that's an accurate number.
If you deposit 400 and percent 6 interest annually how much money will you have in 25 years?
400*(1.06)25 = 1716.75
How much money should be deposited today in an account that earns 6 percent compounded semi annually so that it will accumulate to 20000 in five years?
189.89
What time will be required for a sum of money to double itself at 5 percent simple interest?
20 YEARS
Susan deposits 5000 in a bank at simple 6 percent interest annually after one year how much money does she have?
Money deposited P: 5000 Rate of Interest r: 6 no. of years n: 1 Interest I = p * n * r / 100 = 300 Total money at the end of one year = P + I = 5300
If a Bank account has a nominal annual rate of 7.23 percent compounded annually how many years will it take to double your money?
10 years
Is it true that it will take money in savings 14.2 years to double at 5 percent interest compounded annually?
Yes, that's an accurate number.
If you deposit 400 and percent 6 interest annually how much money will you have in 25 years?
400*(1.06)25 = 1716.75
How long will money in savings take to double at 5 percent interest compounded annually?
Use the "rule of 72"...simply put, using compound interest you take the number 72 and divide it by the interest rate. Thus, at 5% the time to double is 14.4 years. This formula can be used for calculating a "double" for any interest rate using the same mathematical procedure.
How much money should be deposited today in an account that earns 6 percent compounded semi annually so that it will accumulate to 20000 in five years?
189.89
Is 73000 a lot of money to make annually?
Yes, it is compared to what others make annually.
How many years will it take for money to double at the effective rate of 8 percent?
9.0065 years.
How long will it take for your money to double in the bank at 4 percent interest?
It will take 18 years.
Jon deposits 1000 in an account that pays 8 percent interest compounded annually How long will it take to double your money?
1). My money will never double. Let's talk about Jon's money instead. 2). It doesn't matter how much he deposits into the account. The time required for it to double is the same in any case. 3). At 8% interest compounded annually, the money is very very very nearly ... but not quite ... doubled at the end of 9 years. At the end of the 9th year, the original 1,000 has grown to 1,999.0046. If the same rate of growth were operating continuously, then technically, it would take another 2days 8hours 38minutes to hit 2,000. But it's not growing continuously; interest is only being paid once a year. So if Jon insists on waiting for literally double or better, then he has to wait until the end of the 10th year, and he'll collect 2,158.92 .
How long does it take for 2000 dollars to double up at 6 percent on your money?
Twelve years at 6%
How many years does it take you money to double if it earns 1 percent per year?
jo mama
What time will be required for a sum of money to double itself at 5 percent simple interest?
20 YEARS
