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Earn +20 ptsQ: How long would it take 100 to double 5 percent?
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How long will it take for 750 to DOUBLE at 8 percent compound?
Nine years at 8%
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
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 many years will it take for an investment to double if the interest rate is 8 percent per year compounded annually?
11 years
What time will be required for a sum of money to double itself at 5 percent simple interest full disclose?
It will take 20 years.
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