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Nine years at 8%
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∙ 9y ago
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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.
How long would it take 100 to double 5 percent?
As a rough guide to double any amount compounded annually, divide 70 by the interest rate. In this case that is 14 years.
How long will it take to triple your money at 4.6 percent?
There is what's called the "rule of 72" which states, you divide the percent into 72 and that tells you how log it takes to double your money. For example, 4.6 goes into 72 15.65 times. So, it would take 15.65 years to double your money. That's not too good of an investment. 72 ÷ 4.6 = 15.65
In how many years your amount will be double if rate of interest is 10 percent annually in compound interest?
Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double. If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.
How many years would it take for money to triple in value at 20 percent per year simple interest?
10 years. Compound interest would take 7 years.
How long will it take for your money to double in the bank at 4 percent interest?
It will take 18 years.
How long will it take 1000 to double 5.5 percent?
About 13 years at 5.5%
How long does it take 1300.00 to double at a rate of 4 percent?
17 years
How long to double 500 at 1 percent a day?
If interest does not compound, it will take 100 days to raise it up by 100% (1% per day) If it does, you will double it in just 70 days. Note that in either case it does not depend on the amount invested (in this case 500)
How long would it take for your annuity to double at a 6 percent investment gain?
12 years.
How long will it take to double your money if it grows at 12 percent annually?
Six years at 12%
How long does it take for 2000 dollars to double up at 6 percent on your money?
Twelve years at 6%
The national debt is 6 percent a year how long would it take for the debt to double?
12 years
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.
How long will it take to double your money at 8 percent interest rate and continuous compounding?
Nine years at 8%
How long does an investment earning 9 percent take to double in value?
8.0432 years (rounded) if compounded annually.
Given a growth rate of 3 percent per year how long will it take for a population of 100000 individuals to double?
20 years
