Best answer

Barter and the Double Coincidence of Wants Ultimately, money is only useful because you can exchange it for goods and services. ... In a barter economy, an exchange between two people requires a double coincidence of wants, which means that what one person wants to buy is exactly what the other person wants to sell.

Answered by: Šime Vidas Date created: May 16, 2022

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

Asked By: iBug Date created: May 05, 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: xyzjayne Date created: May 06, 2022

Why is money a better system than barter?

Asked By: trusktr Date created: Apr 30, 2022

Hey is money better than barter system in trade}? The main advantage of money over barter is that money is always going to be usable. Barter is very often not possible. This is because of the need for what is called a “coincidence of wants” (sometimes called a “double coincidence of wants”).

Answered By: kojow7 Date created: May 02, 2022

How long does it take to double your money in a 401k?

Asked By: Nur Date created: May 11, 2022

For example, if you invest $10,000 at 10 percent compound interest, then the “Rule of 72” states that in 7.2 years you will have $20,000. You divide 72 by 10 percent to get the time it takes for your money to double. The “Rule of 72” is a rule of thumb that gives approximate results.

Answered By: kaya3 Date created: May 12, 2022

How can I double my money per year?

Asked By: MauricioLeal Date created: May 04, 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. For example: If you invest money at a 10% return, you will double your money every 7.2 years.

Answered By: Dave Schweisguth Date created: May 04, 2022

How does the government increase the money supply?

Asked By: Thomas Dickey Date created: Apr 28, 2022

In open operations, the Fed buys and sells government securities in the open market. If the Fed wants to increase the money supply, it buys government bonds. ... Conversely, if the Fed wants to decrease the money supply, it sells bonds from its account, thus taking in cash and removing money from the economic system.

Answered By: VtoCorleone Date created: Apr 30, 2022

Is money a cause of depression?

Asked By: Roko C. Buljan Date created: May 07, 2022

It's no coincidence that one in four people with a mental health problem is also in debt as they form their own vicious circle. The grinding effect of living in poverty can lead to depression, while the medical effects of depression only contribute further to financial problems.

Answered By: Aziz Alto Date created: May 07, 2022

What is money and its functions in economics?

Asked By: trsvchn Date created: May 07, 2022

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction cost, namely the double coincidence of wants.

Answered By: Paul Dixon Date created: May 10, 2022

How often does the value of money double?

Asked By: Raynos Date created: May 10, 2022

The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.

Answered By: Tom Hale Date created: May 13, 2022

How often does your money double in a 401k?

Asked By: Nikos C. Date created: Apr 28, 2022

How the Rule Works. To use the Rule of 72, divide the number 72 by an investment's expected annual return. The result is the number of years it will take, roughly, to double your money.

Answered By: mrhn Date created: May 01, 2022

What percentage of money will double in 10 years?

Asked By: tanookiben Date created: May 11, 2022

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

Answered By: Lord Date created: May 11, 2022

Related Question Answers

Anurag Dabas

Professor

How does money solve the problem of double coincidence of wants?

Money solves the problem of double coincidence of wants by acting as a medium of exchange.

Double coincidence of wants implies a situation where two parties agree to sell and buy each other's commodities., i.e., what one party desires to sell is exactly what the other party wishes to buy..

Daniel C. Sobral

Professor

How has the introduction of money solve the problem of barter system?

(b) (i) The problem of double coincidence of wants made trade difficult and time wasting. (ii) Many goods used in barter trade cannot be divided into smaller units. ... (c)(i) Money has solved the problem of double coincidence of wants i.e. with money you can buy all you want or sell what you have at any time.

jateen

Professor

How does money double every 7 years?

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.

Gareth

Professor

How long does it take to withdraw money from Fidelity?

Withdrawals by check generally require 5 to 7 business days, Electronic Funds Transfer (EFT) or Fidelity Electronic Funds Transfer generally require 1 to 3 business days, and withdrawals that are directed to a Fidelity non-retirement account generally require 1 to 2 business days for processing.

Jacob Relkin

Professor

How long does it take to double your money at 10 percent?

seven years At 10%, you could double your initial investment every seven years (72 divided by 10). In a less-risky investment such as bonds, which have averaged a return of about 5% to 6% over the same time period, you could expect to double your money in about 12 years (72 divided by 6).

womp

Professional

What is money in accounting?

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction cost, namely the double coincidence of wants.

jay.sf

Professional

Does it cost money to unlock your phone?

As of Dec. 1, cellphone customers can ask their provider to unlock their phones free of charge, the CRTC announced Thursday. ... Then they charge a fee — typically $50 — to unlock the phone if a customer wants to switch providers.

Mahozad

Professional

How has money solve the problem of barter system?

Money solves the problem of double coincidence of wants by acting as a medium of exchange. Double coincidence of wants implies a situation where two parties agree to sell and buy each other's commodities., i.e., what one party desires to sell is exactly what the other party wishes to buy.

Giovanni G. PY

Professional

Why has money replaced the barter system give three reasons?

The three reasons that lead to the replacement of barter system by money are : 1.

Less possibility or lack of coincidence of wants or double coincidence of wants.

...

Long trade was very expensive in barter system as goods and services were not easily mobile..

Don Kirkby

User

How did money solve the problem of double coincidence of wants?

Money solves the problem of double coincidence of wants by acting as a medium of exchange. ... For example, if an ice-cream vendor wants a bicycle but the bicycle manufacturer wants clothes, and not ice-creams, then the vendor can use money to obtain a bicycle.

Matthias

User

What advantage does a money economy have over a barter economy?

What advantage does a money economy have over a barter economy? Trade is difficult with barter because it requires a coincidence of wants. Money overcomes that problem. A buyer can obtain goods without having to locate a seller who desires what the person has to trade.

c00000fd

User

Why do you think money has replaced barter?

The three reasons that lead to the replacement of barter system by money are : 1. Less possibility or lack of coincidence of wants or double coincidence of wants. ... Long trade was very expensive in barter system as goods and services were not easily mobile.

Plabon Dutta

User

Why is money transaction system better than water system?

1 Answer. (i) Transaction system is better than barter system because double coincidence of wants creates problem. ... (iv) In contrast, in an economy where money is in use; money by providing the crucial intermediate step eliminates the need for double coincidence of wants.

ikiK

User

How the use of money contributes to economic efficiency?

Money avoids the double coincidence of wants and allows for more specialization and productive efficiency. Therefore money allows us to use our limited resources wisely and produce MORE with the same amount of resources. this helps to reduce scarcity. This is why money is important.

Daniel Santos

Guest

Does it cost money to get a phone unlocked?

As of Dec. 1, cellphone customers can ask their provider to unlock their phones free of charge, the CRTC announced Thursday. ... Then they charge a fee — typically $50 — to unlock the phone if a customer wants to switch providers.

Brock Woolf

Guest

How can I double my money legally?

4 Simple Ways to Double Your MoneyInvesting. Investing is one of the best ways to grow your wealth because there's a good chance your annual rate of return will outpace inflation, gradually increasing your net worth. ... Use a high-yield savings account. ... Start a side hustle. ... Spend less to double your savings.

D_Pain

Guest

How do I double my money in 10 years?

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.

Alexander O'Mara

Guest

Can I double my money in 10 years?

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..

Grokify

Guest

Why is money better than the barter system?

The main advantage of money over barter is that money is always going to be usable. Barter is very often not possible. This is because of the need for what is called a “coincidence of wants” (sometimes called a “double coincidence of wants”).

Robin Mackenzie

Guest

How does money make life easier than bartering?

Money is far more flexible and convenient.

...

The main advantage of money over barter is that money is always going to be usable.

Barter is very often not possible.

This is because of the need for what is called a “coincidence of wants” (sometimes called a “double coincidence of wants”)..

Bjorn Mistiaen

Guest

Does the Bible say to give money to the church?

God wants believers to be free from the love of money, as the Bible says in 1 Timothy 6:10: "For the love of money is a root of all kinds of evils" (ESV). ... 25, 2020, learnreligions.com/what-does-the-bible-say-about-church-giving-701992. Fairchild, Mary.

Abid Rahman K

Guest

Which among the given is the reason that money is the most liquid form of asset?

It facilitates exchange through a common medium i.e. facilitates exchange through currency and eliminates the need for double coincidence of wants for an exchange to take place. Therefore, it can be concluded that medium of exchange is the primary function of money. Money is the most liquid asset.

spender

Guest

Does Gisele make more money than Brady?

The question everyone wants to know: What is Gisele Bündchen's net worth.

Well, according to Celebrity Net Worth, Bündchen is worth $400 million, which is double what her husband Tom Brady is worth.

(The site reports that Brady is worth $200 million and has a $30 million salary from the NFL.).

qbik

Guest

Does money double every 10 years?

Using the rule, you take the number 72 and divide it by this expected rate. For example, if you have a $10,000 investment that has earned or that you anticipate will earn an average of 10% every year, it would take 72/10 = 7.2 years for your money to double.

seangwright

Guest

Does money double every 7 years?

 At 10%, you could double your initial investment every seven years (72 divided by 10). In a less-risky investment such as bonds, which have averaged a return of about 5% to 6% over the same time period, you could expect to double your money in about 12 years (72 divided by 6).

Remy Lebeau

Guest

Is money a need or want?

In other words — needs vs. wants. Needs are required to survive; wants are the fun treats and extras in life. I've found that people get into trouble when they borrow money to pay for their “wants.”

Gray

Guest

Do I have to pay tax on money transferred from overseas?

Many, but not all, countries have double-taxation treaties in place, which protect citizens from paying tax on the money twice. While you may not need to pay tax on large sums of money being sent abroad, some governments will require you to file a declaration that you are bringing the money into the country.

JB Nizet

Guest

Does your money double every 7 years?

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.

Qwerty

Guest

How can I double my money in stock market?

The rule of 72 is a famous shortcut for calculating how long it will take for an investment to double if its growth compounds. Just divide your expected annual rate of return into 72. The result is the number of years it will take to double your money.

DVK

Guest

Is money a need or a want?

Making Decisions In other words — needs vs. wants. Needs are required to survive; wants are the fun treats and extras in life. I've found that people get into trouble when they borrow money to pay for their “wants.”

ThiefMaster

Guest

Does money double in 7 years?

The Rule of 72 states that the amount of time required to double your money equals 72 divided by your rate of return. For example: If you invest money at a 10 percent return, you will double your money every 7.2 years. If you invest at a 7 percent return, you will double your money every 10.2 years.

snr

Guest

How can I double my money in 10 years?

The Rule of 72 states that the amount of time required to double your money equals 72 divided by your rate of return. For example: If you invest money at a 10 percent return, you will double your money every 7.2 years.

Scott Arciszewski

Guest

Can I double my money in a year?

The rule of 72 is a famous shortcut for calculating how long it will take for an investment to double if its growth compounds. Just divide 72 by your expected annual rate. The result is the number of years it will take to double your money.

sev

Guest

How long does it take for your money to double in the stock market?

At 12%, you could double your initial investment every six years (72 divided by 12). In a less-risky investment such as bonds, which Standard and Poor's says have averaged about 6% over the same time period, you could expect to double your money in about 12 years (72 divided by 6).25 Jun 2019

Rafe Kettler

Guest

How long does it take money to double in the stock market?

At 12%, you could double your initial investment every six years (72 divided by 12). In a less-risky investment such as bonds, which Standard and Poor's says have averaged about 6% over the same time period, you could expect to double your money in about 12 years (72 divided by 6).

dariosicily

Guest

How long does it take to double your money at 5 percent interest?

14.4 yearsOr, if your money is earning a 5 percent interest rate, you'll double it in 14.4 years (72 divided by 5 equals 14.4). If your money is earning a measly 1 percent interest rate, it will take you—yep, you guessed it—a whopping 72 years to double it.

JNK

Guest

How long does it take to double your money at 5 percent?

Answer and Explanation: It would take 14.4 years to double your money. Applying the rule of 72, the number of years to double your money is 72 divided by the annual interest rate in percentage. In this question, the annual percentage rate is 5%, thus the number of years to double your money is: 72 / 5 = 14.4.

Mykhailo Skliar

Guest

Is money a want or a need?

In other words — needs vs. wants. Needs are required to survive; wants are the fun treats and extras in life. I've found that people get into trouble when they borrow money to pay for their “wants.”