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How long in years will it take the money to quadruple if it earns 7 percent compounded semi-annually?
Wiki User
∙ 12y ago
Assuming you meant that every 6 months you earn 7% then it will take 10 1/2 years to quadruple your amount (see below - I used 100.00 as a starting amount). If you meant you get 7% per year (3.5% every 6 months) then you will get a different amount of 20 1/2 years.
year 0.0 = 100.00
year 0.5 = 107.00 (100 x 1.07)
year 1.0 = 114.49
year 1.5 = 122.50
year 2.0 = 131.08
year 2.5 = 140.26
year 3.0 = 150.08
year 3.5 = 160.59
year 4.0 = 171.83
year 4.5 = 183.86
year 5.0 = 196.73
year 5.5 = 210.50
year 6.0 = 225.24
year 6.5 = 241.01
year 7.0 = 257.88
year 7.5 = 275.93
year 8.0 = 295.25
year 8.5 = 315.92
year 9.0 = 338.03
year 9.5 = 361.69
year 10.0 = 387.01
year 10.5 = 414.10
Wiki User
∙ 12y ago
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