If the interest rate was eight percent, it would take about 9 years to double your principle.
Interest alone would be 4.871463646 times the amount of the principle.
AnswerCompound interest works like this.Take a principle (The amount of money you deposit) of $10,000.Lets say that the interest rate is 8% and that it compounds anually.At the end of one year you would have $10,800.With simple interest, at the end of two years, you would have $11,600 because you only earn interst on the principle.After three years you would have $12,400.However, with compound interest, you will earn interest on not just the principle, but the compounded interest as well.Therefore, with compound interest, at the end of two years, you would have 11,664.After three years it would be $12,597.12 and so on.
10 years
12 years.
18.90currency as an interest..
It depends on what you are investing in. If you're not a professional investor it should take about 5 years to double your investment in stocks.
Probably not. If you were that hurt and traumatized, you would have sued her four years ago.
depends on your age and risk-tolerance. If you're not going to need the money for 10 years or more, all equities are fine.
You can refinance the mortgage. You can pay additional principle each month. This will reduce the overall cost of the mortgage. By paying double the principle amount each month, you eliminate a payment at the end of the mortgage time.
If anyone knew what the future would be in 42 years they'd be investing like crazy.
Interest alone would be 4.871463646 times the amount of the principle.
14.87% per annum, compounded for 5 years would give back very slightly more than double (2.000014).
the power of microprocessors will double every two years
you get more years since your still young
The key difference between general investing and retirement investing strategies is the time horizon and goals. General investing focuses on building wealth over the long term, while retirement investing is specifically tailored to provide income during retirement years. Retirement investing often involves more conservative strategies to protect savings and ensure a steady income stream in retirement.
To double your money in 12 years, you would need a return on investment (ROI) of approximately 6.17 per year.
AnswerCompound interest works like this.Take a principle (The amount of money you deposit) of $10,000.Lets say that the interest rate is 8% and that it compounds anually.At the end of one year you would have $10,800.With simple interest, at the end of two years, you would have $11,600 because you only earn interst on the principle.After three years you would have $12,400.However, with compound interest, you will earn interest on not just the principle, but the compounded interest as well.Therefore, with compound interest, at the end of two years, you would have 11,664.After three years it would be $12,597.12 and so on.