Can someone show me using simple math (basic math)
How long it would take to double at various interest rates.
Without regard for Administrative fees.
2007-10-04 09:23:05 · 0 answers · asked by apup76 3 in Business & Finance ➔ Personal Finance
Rule of 72 is a great approximation when determining amount of time for compound interest to double the initial investment.
Example: you deposit set sum at 6% interest. Forget about the decimal points and divide 72 by 6. So it will take 12 years.
2007-10-04 09:34:27 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Doubling Investment Formula
2016-12-14 06:31:37 · answer #2 · answered by mehaffey 4 · 0⤊ 0⤋
RE:
What is the formula for doubling investment value ?
Can someone show me using simple math (basic math)
How long it would take to double at various interest rates.
Without regard for Administrative fees.
2015-08-04 12:45:15 · answer #3 · answered by Mariah 1 · 1⤊ 0⤋
You could always use the rule of 72 you take 72 and divide it by the interest rate so if you get 2% interest it would take 36 years to double.
2007-10-04 09:31:02 · answer #4 · answered by Rocketman 6 · 1⤊ 0⤋