At what rate of interest does money double in ten years?

0 ⤊

At what rate of interest does money double in ten years?

2007-07-10 01:38:29 · 2 answers · asked by Bdsailor 1 in Business & Finance ➔ Personal Finance

2 answers

Using the RULE OF 72 tells you that the interest rate is 7.2%.

This rule says: If you divide the interest rate you receive into 72, it will tell you the number of years it takes for your money to double.

It assumes no taxation of the investment, or using the 'net after tax' rate of return.

2007-07-10 01:54:31 · answer #1 · answered by luckyzimmy 2 · 0⤊ 0⤋

7.2 percent

2007-07-10 09:05:38 · answer #2 · answered by hottotrot1_usa 7 · 0⤊ 0⤋