in how many years will it take a certain investment to double itself if the interest is compoundedly annually?

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in how many years will it take a certain investment to double itself if the interest is compoundedly annually?

at 6%?

2006-11-06 10:52:23 · 3 answers · asked by jerck 1 in Business & Finance ➔ Investing

3 answers

About 12 years.

I read somewhere that there is a handy 'Rule of 72'. If you want to know how many years it takes to double an investment at a particular interest rate, you divide 72 by that rate to get the number of years. For example, for 6%, 72/6 = 12 years. For 8%, 72/8 = 9 years, etc.

2006-11-06 10:57:29 · answer #1 · answered by ricochet 5 · 0⤊ 0⤋

12 years. 144 months.

2006-11-06 19:20:34 · answer #2 · answered by EAA Duro 3 · 0⤊ 0⤋

It will take 700,000 years and 3 minutes.

2006-11-06 20:20:39 · answer #3 · answered by jonny g 1 · 0⤊ 0⤋