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Answer. Answer: I believe you are asking if we have an annual rate of 12%, compounded monthly, how long to double? X = 69.66 or at 70 months.

Answered by: Richard Date created: May 16, 2022

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

Asked By: Aziza Kasenova Date created: May 10, 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: prosoitos Date created: May 12, 2022

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

Asked By: Andriy M Date created: May 03, 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: bikram Date created: May 05, 2022

How many years would it take to double your money if your ROI is 4%?

Asked By: Starx Date created: May 04, 2022

For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years. Exact Answer: Rule of 72 Estimate: (We're assuming the interest is annually compounded, by the way.)

Answered By: Jakub Truhlář Date created: May 06, 2022

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

Asked By: ncuillery Date created: Apr 29, 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: ARK1375 Date created: May 01, 2022

How long does it take to get money after approved for disability?

Asked By: Hussein Date created: May 12, 2022

one to two monthsUnfortunately, Social Security disability claimants typically have to wait one to two months after approval before they will see their first Social Security Disability monthly payment. In most cases, it will take even longer for you to receive your back pay.

Answered By: Inigo Date created: May 12, 2022

How long will it take for a sum of money to quadruple at 10% compounded annually?

Asked By: Joel Date created: Apr 29, 2022

You are correct in your comment that if you had 10% interested compounded annually, you would quadruple your money in 14.54 years.

Answered By: Richard Hodges Date created: May 01, 2022

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

Asked By: Tom Harrington Date created: May 03, 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: Waiski Date created: May 05, 2022

How long will it take money to triple at an APR of 7.5% compounded annually?

Asked By: codejockie Date created: May 07, 2022

Answer: 15.6 years.

Step-by-step explanation: We have to calculate the years to triple an amount of money earning 7.3% compounded annually..

Answered By: Doyousketch2 Date created: May 09, 2022

How long will it take the money to triple itself if invested at 10% compounded semi annually?

Asked By: Thom Date created: Apr 28, 2022

1 Answer. Joe D. It will approximately take 18 years 10 months.

Answered By: Yakk - Adam Nevraumont Date created: Apr 30, 2022

How often does the value of money double?

Asked By: EricZhao Date created: May 04, 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: David Aldridge Date created: May 07, 2022

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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).

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How can I double my money on the market?

Rule of 72 defined The rule of 72 is a straightforward way that you can calculate how long it will take for your money to double based on an average annual rate of return. Using the rule, you take the number 72 and divide it by this expected rate.

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How can I double my money in 1 year?

To use the rule, divide 72 divided by the investment return (or interest rate your money will earn).

The answer will tell you the number of years it will take to double your money.

For example: If your money is in a savings account earning 3% a year, it will take 24 years to double your money (72 / 3 = 24)..

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How can I double my money in a year?

To use the rule, divide 72 divided by the investment return (or interest rate your money will earn). The answer will tell you the number of years it will take to double your money. For example: If your money is in a savings account earning 3% a year, it will take 24 years to double your money (72 / 3 = 24).

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How can I double my money in one year?

The Classic Way—Earning It Slowly 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.

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Do money market accounts pay interest monthly?

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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.

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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).

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How can I double my money in 7 years?

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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.

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

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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).

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

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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.