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How long will it take to double your money at 8 percent interest rate and continuous compounding?
Wiki User
∙ 9y ago
Nine years at 8%
Wiki User
∙ 9y ago
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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.
Using the rule of 72 how long will take for a deposit to double size using an interest rate of 9 percent?
72/9 ie 8 years
How many years will it take for 4000 to double at a simple interest?
The same time that it will take for any other amount to double. However, for the actual calculations you need to know the interest rate.
How many years will it take for 8000 to double at a simple interest rate of 6 percent?
6% of 8,000 = 480 Since interest is not compounded, you just keep getting 480 paid once every year. Mathematically, it takes 8,000/480 = 162/3 years to earn another 8,000. But the final payment isn't paid until the end of the 17th year. Until that moment, you've only collected 7,680. Then, at the end of the 17th year, you get the payment that brings the interest to a total of 8,160. Note that if the interest had only compounded annually ... you leave the interest in the account, and at the end of next year, 6% is paid on the total in the account ... it would double in only 12 years.
What interest rate would double your money in 5 years?
14.87% per annum, compounded for 5 years would give back very slightly more than double (2.000014).
What rate of interest compounded annually is required to double an investment in 16 years?
Future Value = (Present Value)*(1 + i)^n {i is interest rate per compounding period, and n is the number of compounding periods} Memorize this.So if you want to double, then (Future Value)/(Present Value) = 2, and n = 16.2 = (1 + i)^16 --> 2^(1/16) = 1 + i --> i = 2^(1/16) - 1 = 0.044274 = 4.4274 %
What rate of simple interest is needed for 1000 to double in 3 years?
331/3 percent simple interest will double any amount in 3 years.
How many years will it take to double an amount at 3 percent interest?
33 years
How many years will it take 100 to double check if you are simple interest rate is 4?
It will take 25 years for a 100 to double check if you have a simple interest of 4 percent.
How long will it take for your money to double in the bank at 4 percent interest?
It will take 18 years.
What time will be required for a sum of money to double itself at 5 percent simple interest?
20 YEARS
How many years in investing would it take to double your principle?
If the interest rate was eight percent, it would take about 9 years to double your principle.
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.
What is the amount of times required for an investment to double at a rate of 4.2 percent if interest compound continues?
For continuous compounding: A = Pert Since we need the balance A after t years with a rate of 4.2 % = 0.042 to be 2P, we have A = Pert 2P = Pe(0.042)t 2 = e(0.042)t ln 2 = ln e(0.042)t ln 2 = 0.042t(ln e); (ln e = 1) ln 2 = 0.042t ln2/0.042 = t 16.5 = t Thus after 16 1/2 years the invested money would be doubled.
What is the length of time required before a 1000000 deposit will double if the interest rate is 10 percent?
There's a rule of thumb for "double your money" problems: Time = 70/interest rate, so in this case approx 7 years.
How many years would it take to double 100 if it earned 7.75 percent interest per year?
10 years
Using the Rule of 72 how long will it take for a deposit to double in size using an interest rate of 9 percent?
8 years.
