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Answered by: Imran Date created: May 14, 2022

How can I double my money every 3 years?

Asked By: Frederick Cheung Date created: May 14, 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: Seldaek Date created: May 16, 2022

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

Asked By: instanceof me Date created: May 07, 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: Allain Lalonde Date created: May 09, 2022

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

Asked By: Plabon Dutta Date created: Apr 28, 2022

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

Answered By: RiggsFolly Date created: May 01, 2022

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

Asked By: Jonathan Fingland 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: nathancy Date created: May 07, 2022

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

Asked By: BlueRaja - Danny Pflughoeft Date created: May 11, 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: Simon Martinelli Date created: May 14, 2022

Can I double my money in 5 years?

Asked By: Darish Date created: Apr 30, 2022

Similarly, 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..

Answered By: Isantipov Date created: May 01, 2022

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

Asked By: jcomeau_ictx Date created: May 11, 2022

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

Answered By: Christophe Date created: May 12, 2022

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

Asked By: Peggyanigen Date created: Apr 27, 2022

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

Answered By: Muhtar Date created: Apr 30, 2022

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

Asked By: mplungjan Date created: May 06, 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: schpet Date created: May 06, 2022

At what percent simple interest will a sum of money double itself in 16 years?

Asked By: Antimony Date created: May 08, 2022

541​%

Answered By: Yaakov Bressler Date created: May 08, 2022

Related Question Answers

CodeNotFound

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.

Ram

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.

Alain O'Dea

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 % .

DenisKolodin

Guest

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

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.

The Rule of 72 is a simplified version of the more involved compound interest calculation..