Best answer

To use the Rule of 72 in order to determine the approximate length of time it will take for your money to double, simply divide 72 by the annual interest rate. For example, if the interest rate earned is 6%, it will take 12 years (72 divided by 6) for your money to double.

Answered by: Sibeesh Venu Date created: May 13, 2022

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

Asked By: Lord Date created: May 14, 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: mklement0 Date created: May 16, 2022

What interest rate doubles your money in 7 years?

Asked By: cameron1024 Date created: May 06, 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: Gazihan Alankus Date created: May 06, 2022

How long will it take for money to double if it is invested at 6% compounded continuously?

Asked By: lbragile Date created: May 08, 2022

12 yearsTo use the Rule of 72 in order to determine the approximate length of time it will take for your money to double, simply divide 72 by the annual interest rate. For example, if the interest rate earned is 6%, it will take 12 years (72 divided by 6) for your money to double.

Answered By: John Slegers Date created: May 09, 2022

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

Asked By: ulou 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: Boiethios Date created: May 03, 2022

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

Asked By: Charles Lavalard Date created: May 12, 2022

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

Answered By: Nuqo Date created: May 15, 2022

How long in years will it take your money to triple at an annual percentage rate of 6% compounded annually?

Asked By: Betamos Date created: May 11, 2022

= 72/ rate of interest = 72/6 = 12 years. It takes 19 years to triple your money.

Answered By: Karl Bielefeldt Date created: May 14, 2022

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

Asked By: Eric Lippert Date created: May 12, 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: Joakim Danielson Date created: May 14, 2022

How long will it take for money to double at a rate of 6% compounded monthly?

Asked By: Chris Ruehlemann Date created: May 07, 2022

For example, if the interest rate earned is 6%, it will take 12 years (72 divided by 6) for your money to double.

Answered By: Mark Hildreth Date created: May 08, 2022

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

Asked By: Austin Brunkhorst Date created: May 07, 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: Michael Hausenblas Date created: May 07, 2022

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

Asked By: DhruvPathak Date created: May 04, 2022

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

Answered By: Udi Date created: May 07, 2022

Related Question Answers

leaf_yakitori

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.

Mark Rogers

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.

T.Todua

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 % .

brentonstrine

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..

Sebastien Lorber

Guest

How can I double my money in 5 years?

This is the number of years it will take for your money to double. For example, if your money is earning an 8 percent interest rate, you'll double your money in 9 years (72 divided by 8 equals 9). Or, 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).