2007-02-18 17:01:16 · 14 answers · asked by nubianprncess_1 1 in Business & Finance ➔ Personal Finance
double means 200%.
2007-02-18 17:03:04 · answer #1 · answered by lnfrared Loaf 6 · 0⤊ 0⤋
It would double just as fast as you could deposit another $200.
Just think, if you had around $800,000 in a passbook account you could earn around $1600 month. Better start looking for other ways to make money, saving wont cut it. At $200 a month it will only take you around 300 years. At $400 month 150 Years, at $800 month $75 years, at $1600 month 35 years.
Woot Woot
2007-02-18 17:19:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Rule of 72 - divide 72 by the interest rate and you get the number of years it takes to double your money. At 18% - your money will double in 4 years.
2007-02-18 17:11:30 · answer #3 · answered by like2bcreative 1 · 0⤊ 1⤋
Well that would depend on if its 18% per month, 6 months or a year.
If its a year heres the math to find out how much 18%
200(18)=$36.00
So in 1 year you would get $236.00 thus making $36.00
2007-02-18 17:04:49 · answer #4 · answered by chicata25 4 · 0⤊ 0⤋
5.5 mo. is as close as I could get, to tired----ahhh haaa!-.rule of 72: Information from Answers.comThe E-M Rule multiplies this by 200/(200-18), giving a doubling time of 4.23 years, ... A note on the rule of 72 or how long it takes to double your money, ...
www.answers.com/topic/rule-of-72 - 56k - Cached - Similar pages
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2007-02-18 17:07:39 · answer #5 · answered by Faerie loue 5 · 0⤊ 0⤋
In the bank means a taxable investment so the rule of 72 does not apply. It only works with tax deferred investments. But I guess if you don't claim it and cheat on your taxes it wouldn't make a difference any way
2007-02-18 18:54:43 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If what you mean is that you have $200 that is compounded annually by 18%...a littlle over 4 years
2007-02-18 17:10:44 · answer #7 · answered by wise_ole_sage 2 · 0⤊ 0⤋
That depends on how often it *ahem* "doubled" by 18% and whether the interest is compound or simple. Give us more information and we can answer your problem (which DOES sound like math homework) more completely.
2007-02-18 17:06:41 · answer #8 · answered by DDRFreak007 2 · 0⤊ 0⤋
Same rule of 72 when you asked the same question, but at 7%.
18 goes into 72 4 times, so 4 years.
2007-02-18 17:05:35 · answer #9 · answered by Uncle Pennybags 7 · 1⤊ 3⤋
hmmmmm yearly i came with just over 3 but in my head. first yr is 36+200,2nd is
2007-02-18 17:13:16 · answer #10 · answered by l8ntpianist 3 · 0⤊ 0⤋