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Answer. It take about 14 years for four folding in which doubling the sum of money takes place in 7 years.

Answered by: HellCatVN Date created: May 14, 2022

What rate of return do you need to double your money in 10 years?

Asked By: Matt Hamilton Date created: May 13, 2022

7.2 percentThe math rule of 72 tells you how long it will take to double your money at a given rate. The interest rate times the number of years to double compounded equals 72. So to double an investment in 10 years, divide 72 by 10. A mutual fund needs an average annual return of 7.2 percent to double in 10 years.

Answered By: Salahuddin Ahmed Date created: May 15, 2022

What interest rate doubles your money in 7 years?

Asked By: Rizier123 Date created: May 11, 2022

At 10%, money doubles every 7.2 years and when you divide 7.2 by 10%, you get 72. This rule of thumb helps you compute when your money (or any unit of numbers) will double at a given interest (growth) rate.

Answered By: Claudiu Date created: May 11, 2022

How can I double my money every 3 years?

Asked By: VictorLee Date created: Apr 27, 2022

The rule can tell you how fast you can double your money. Divide 72 by the interest rate at which you are compounding your money, and you will arrive at the number of years it will take to double in value. For instance, you money will double in 3 years if you are compounding at 24 per cent (ie 72/24 = 3 years).

Answered By: Jordan H Date created: Apr 29, 2022

What percentage of money will double in 10 years?

Asked By: Matteo NNZ Date created: May 07, 2022

(72/8 = 9) If you invest at a 7% return, you will double your money every 10.2 years.

Answered By: Mark Rotteveel Date created: May 09, 2022

How does money double every 7 years?

Asked By: Klaus Byskov Pedersen Date created: May 06, 2022

The rule states that the amount of time required to double your money can be estimated by dividing 72 by your rate of return. 1 For example: If you invest money at a 10% return, you will double your money every 7.2 years. ... If you invest at a 7% return, you will double your money every 10.2 years.

Answered By: abc123 Date created: May 07, 2022

At what rate of simple interest will a sum of money double itself in 8 years?

Asked By: nos Date created: May 06, 2022

12.5% per annumAt what rate percent per annum will a sum of money double in 8 years. Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

Answered By: Matthieu Napoli Date created: May 08, 2022

How long will it take a certain sum of money to triple itself?

Asked By: Samuel Everson Date created: May 06, 2022

A sum of money at simple interest double itself in 4 years. in how many years will it triple itself... At what rate percent per annum simple interest, will a sum of money triple itself in 25 years?

Answered By: David Cournapeau Date created: May 06, 2022

How can I double my money in 3 years?

Asked By: OneOfOne Date created: May 03, 2022

The rule can tell you how fast you can double your money. Divide 72 by the interest rate at which you are compounding your money, and you will arrive at the number of years it will take to double in value. For instance, you money will double in 3 years if you are compounding at 24 per cent (ie 72/24 = 3 years).

Answered By: Chas. Owens Date created: May 05, 2022

Does your money double every 7 years?

Asked By: dontWatchMyProfile Date created: May 04, 2022

Here's how the Rule of 72 works: At 10%, money doubles every 7.2 years and when you divide 7.2 by 10%, you get 72. This rule of thumb helps you compute when your money (or any unit of numbers) will double at a given interest (growth) rate.

Answered By: exhuma Date created: May 06, 2022

How long will it take money to triple itself if invested at 8% compounded annually?

Asked By: theTuxRacer Date created: May 03, 2022

The Rule of 115 It's as simple as dividing your interest rate by 115. The quotient is the amount of time it will take you to triple your money. For example, if your money earns an 8 percent interest rate, it will triple in 14 years and 5 months (115 divided by 8 equals 14.4).

Answered By: Lars Blumberg Date created: May 03, 2022

Related Question Answers

jldupont

Professional

At what rate of interest a sum of money doubles itself in 10 years?

In how many years will a sum of money double itself with the rate of 10% per annum simple interest? Here, we have R = 10% and have to calculate t for the sum of the money (that is P) to double. Hence, it will take 10 years for the sum of money to double itself with the rate of 10% per annum simple interest.

Martin Geisler

Professional

At what rate of interest will a sum of money double in 5 years?

14.4% per yearSimilarly, if you want to double your money in five years, your investments will need to grow at around 14.4% per year (72/5). If your goal is to double your invested sum in 10 years, you should invest in a manner to earn around 7% every year. Rule of 72 provides an approximate idea and assumes one time investment.

Adam Batkin

User

At what rate of interest will a sum of money doubles itself in 50 3 years?

Time ; t = 50 3 years so , simple interest , I = p × r × t 100 = p × r × 50 3 × 100 = pr 6 So sum of money after 50 3 years = p + I = p + pr 6 Now according to the question we have ; Sum of money becomes double after 50 3 years , so we have ; 2 p = p + pr 6 ⇒ p = pr 6 ⇒ r = 6 Therefore rate of interest is 6 % .

matigo

Guest

At what simple interest rate will a sum of money be doubled in 5 years?

Alternatively you can calculate what interest rate you need to double your investment within a certain time period.

For example if you wanted to double an investment in 5 years, divide 72 by 5 to learn that you'll need to earn 14.4% interest annually on your investment for 5 years: 14.4 × 5 = 72..