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Answer Expert Verified At 5% simple interest, a sum of money doubles itself in 20 years.

Answered by: Alex K. Date created: May 15, 2022

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

Asked By: Jack Ha Date created: May 01, 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: not_speshal Date created: May 01, 2022

What interest rate doubles your money in 7 years?

Asked By: Stefan Falk Date created: May 03, 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: gotgenes Date created: May 06, 2022

How many years would it take your money to double A at 10% interest compounded yearly?

Asked By: Leftium Date created: May 09, 2022

7.2 yearsThe 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. (72/10 = 7.2)

Answered By: Travis Heeter Date created: May 09, 2022

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

Asked By: Rityanni Date created: Apr 30, 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: Luke Date created: May 02, 2022

At what rate of simple interest will money double itself in 7 years?

Asked By: static_rtti Date created: May 04, 2022

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

Answered By: lomaxx Date created: May 05, 2022

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

Asked By: Abram Date created: Apr 30, 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: Stephen Cleary Date created: May 03, 2022

What rate of return do I need to double my money in 5 years?

Asked By: Jérôme Verstrynge Date created: May 13, 2022

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. It is most accurate for hypothetical rates between 5 and 20 percent.

Answered By: MikeT Date created: May 15, 2022

At what annual rate of interest compounded yearly Will money double in 8 years?

Asked By: Dave Schweisguth Date created: Apr 29, 2022

9% per yearThe Rule of 72 indicates than an investment earning 9% per year compounded annually will double in 8 years.

Answered By: Bruce Date created: Apr 30, 2022

At what interest rate will a sum of money double itself in 3 years if the interest is compounded annually?

Asked By: ANisus Date created: May 07, 2022

Answer. ☆☆☆Let the rate percent per annum be R. Thus, the required rate is 25.99% per annum.

Answered By: ittus Date created: May 08, 2022

At what percent of simple interest sum of money will double itself in 7 years?

Asked By: AraK Date created: May 05, 2022

Hence, if we have 2x after 7 years, we'll get its double after the same amount of time (4x at t = 14).

Hope it's clear..

Answered By: Ébe Isaac Date created: May 07, 2022

Related Question Answers

Achim Zeileis

Professor

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.

Zon

Professor

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.

Atul Arvind

Professional

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 % .

Gyrocode.com

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..