2007-02-12 14:23:08 · 4 answers · asked by farmanimal 1 in Business & Finance ➔ Personal Finance
Use the rule of 72. Divide 72 by the interest for a good approximation. For example, if the interest is 5%...72/5 = 14.4 years for it to double. If the interest is 7%...72/7 = 10.3 years for it to double.
2007-02-12 14:36:36 · answer #1 · answered by Contrarian 3 · 1⤊ 0⤋
Savings Bonds usually take about 18 years to mature now a days. They used to take a couple but heh, look at how the government runs our money. I would say a CD is a better place to make money off from or a high yield account. make money off from you bank :D
2007-02-12 22:33:00 · answer #2 · answered by Maverick 2 · 0⤊ 0⤋
It takes about 20.
2007-02-12 22:25:56 · answer #3 · answered by GoodGuy53 5 · 1⤊ 0⤋
Depends on the interest rate you are receiving. . .
2007-02-12 22:25:44 · answer #4 · answered by towanda 7 · 0⤊ 0⤋