Best Answer

9.0065 years.

Q: How many years will it take for money to double at the effective rate of 8 percent?

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It will take 18 years.

Six years at 12%

Twelve years at 6%

jo mama

20 YEARS

Nine years at 8%

10 years

Approx 69.661 years if the interest is compounded. 100 years otherwise.

It will take 20 years.

About 11 years. (One quick way to find out how fast your money will double is through the Rule of 72. Divide 72 by the interest rate you're getting--in this instance, 6.5%. 72 divided by 6.5 = 11.07. So, it will take a little over 11 years for your money to double.)

Yes, that's an accurate number.

There is what's called the "rule of 72" which states, you divide the percent into 72 and that tells you how log it takes to double your money. For example, 4.6 goes into 72 15.65 times. So, it would take 15.65 years to double your money. That's not too good of an investment. 72 ÷ 4.6 = 15.65