Approx 69.661 years if the interest is compounded. 100 years otherwise.
189.89
Six years at 12%
20 YEARS
If the 3% is "simple" interest, then the $100 earns an extra $18 in 6 years. If the interest is compounded yearly, then it earns $19.41 extra. If the interest is compounded weekly, then it earns $19.72 extra.
Yes, that's an accurate number.
jo mama
9.0065 years.
189.89
It will take 18 years.
Six years at 12%
Twelve years at 6%
20 YEARS
If the 3% is "simple" interest, then the $100 earns an extra $18 in 6 years. If the interest is compounded yearly, then it earns $19.41 extra. If the interest is compounded weekly, then it earns $19.72 extra.
Nine years at 8%
10 years
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.)