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7.2 x 2 = 14.4
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What is double the number 36?
72
What is double 38?
double 38 is 76
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
1500 a month deposited each month how much will it be after 12 years?
use the "rule of 72".It states that money in the bank will double in a number of years if you divide 72 by the interest rate paid per year.For example:If I can get 7.2% interest per year my money will double in 10 years, because 72/7.2 = 10.
What is the rule of 72 used for?
determining how many years it takes for money to double at a particular interest rate
What is the double of 36?
72
What is double the number 36?
72
What is double 38?
double 38 is 76
What is rule 72?
How long it will take for your money to double/divide the annual interest rate into 72.
What is the formula for double growth annuity rate?
It is called the rule of 72. You take the interest rate you will be receiving and divide that number into 72. the answer will be the number of years it will take you to double your money at that interest rate.
What annual interest rate will cause your money to double in 4 years?
The "Rule of 72" gives a good approximation of 72/4=18%.
What is the best diffinition for rule 72?
the number of years it takes for your money to double can be estomated by dividing 72 by the annual percentage interest rate.
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
What is the rule of 72 in savings and investments?
The rule of 72 is a quick and very accurate method of determining how long it takes for money to double at a specified rate of interest, compounded annually. For example, using the rule of 72 with a compounded interest rate of 6% it would take 12 years to double your money (72 divided by 6). The precise amount of time it takes to double your money at 6% based on the actual computation of compounded interest is 11.9 years. The rule of 72 works very well unless the rate of interest exceeds 20% at which point the error rate starts to deviate substantially from the actual answer. The rule of 72 can also be used to figure out what rate of interest you need to double your money in a specified number of years. For example, if you want to double your money in 5 years, divide 72 by 5 and the interest rate needed is 14.4%.
What exactly is the finance rule of 72?
The finance rule of 72 basically is a way to find out how long it will take for someone to double their money, given a certain interest rate. E.g. if you had an interest rate of 9% a year on an investment, it will take 72/9 = 8 years to double your initial investment.
What is the rule 72?
Rule of 72 is a method that you can use to estimate the time your investments will double.I will give you the formulas and examples of how to apply them1) 72/interest=years2)72/years=interestExample 1: An investor is earning an interest of 10%. How many years will it take for her investments to double.Solution: 72/10= answerExample 2: An investor wants to double her money in 9 years, at what rate of interest must she earn for her investment to double in 9 years?Solution: 72/9=answer
What is the best definition of the rule of 72-?
The number of years it takes for your money to double can be estimated by dividing 72 by the annual percentage interest rate.
