0
Leaving $1 dollar in the bank at 9% interest for 16 years
Wiki User
∙ 7y ago
Add your answer:
Earn +20 pts
What is rule 72?
How long it will take for your money to double/divide the annual interest rate into 72.
What is -8 minus 28 -36?
It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.
Who came up with the rule of 72?
Benjamin Franklin came up with this equation.
What is the best diffinition for rule 72?
the number of years it takes for your money to double can be estomated by dividing 72 by the annual percentage interest rate.
What is 72 times 58 equal?
72*58 = 4176. It would have been quicker and simpler to use a calculator yourself. And you don't know if I've got the correct answer, do you?
Why should a consumer know and understand the rule of 72?
Rule of seventy two is used to ascertain the period by which an investment would grow by 100%. 72 divided by rate of interest would provide the approximate period by which the investment would become double. As an example, if the rate of interest is 6% per month, the investment would be doubled in ( 72/6) 12 months. Rule of 72 thus is an important tool to know the investment horizon.
What is the rule of 72 in savings and investments?
The rule of 72 is a quick and very accurate method of determining how long it takes for money to double at a specified rate of interest, compounded annually. For example, using the rule of 72 with a compounded interest rate of 6% it would take 12 years to double your money (72 divided by 6). The precise amount of time it takes to double your money at 6% based on the actual computation of compounded interest is 11.9 years. The rule of 72 works very well unless the rate of interest exceeds 20% at which point the error rate starts to deviate substantially from the actual answer. The rule of 72 can also be used to figure out what rate of interest you need to double your money in a specified number of years. For example, if you want to double your money in 5 years, divide 72 by 5 and the interest rate needed is 14.4%.
Who discovered the rule of 72?
Albert Einstein
How long did asoka rule?
72 years
What is the rule 72?
Rule of 72 is a method that you can use to estimate the time your investments will double.I will give you the formulas and examples of how to apply them1) 72/interest=years2)72/years=interestExample 1: An investor is earning an interest of 10%. How many years will it take for her investments to double.Solution: 72/10= answerExample 2: An investor wants to double her money in 9 years, at what rate of interest must she earn for her investment to double in 9 years?Solution: 72/9=answer
What is the best definition of the rule 72?
The best definition for 72 is the number before 73 and after 71.
What is 3600 divided by 50?
72
When was the first decennial census published?
Because of a 72 year rule, the decennial census of 1790 would have been published in 1862.
What are the release dates for The Girl's Guide to Depravity - 2012 Rule 72 The Unavailable Rule 1-10?
The Girl's Guide to Depravity - 2012 Rule 72 The Unavailable Rule 1-10 was released on: USA: 30 March 2012 Japan: 15 September 2012
What is 72 x 72?
5184
How many stamps would you need to mail a small bracelet from Florida to Canada?
You would have to use 2 stamps to get a small envelope from Florida to Canada. If you do not want to use stamps, you can take it to the post office and it will cost roughly 72 cents to mail it.
What is -8 minus 28 -36?
It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.It is so very simple and quick to get the answer, especially since, if you need it, you can use the calculator that comes with your computer. But since you are obviously not able to do so, the answer is -72.
