how long does it take to double your money at 8% interest?

2 ⤊

2006-11-18 12:54:30 · 3 answers · asked by Susan S 1 in Business & Finance ➔ Personal Finance

If it is compounded, it is called the "rule of 72". It will take 9 years to double your money (72/interest rate%).

2006-11-18 12:57:53 · answer #1 · answered by crazydavythe1st 4 · 1⤊ 0⤋

Rule of 72 for interest doubling

72/8%=9years

2006-11-18 20:59:03 · answer #2 · answered by hogie0101 4 · 1⤊ 0⤋

Under ten years.

2006-11-18 20:59:36 · answer #3 · answered by open4one 7 · 0⤊ 1⤋