How Many Years Will It Take To Double My FD?

Simply divide 72 by the Annual Interest Rate and this is the time it will take you to double up your money.

For e.g.:- If you Invest 10,000 at 8% p.a., it will take you 9 years (72/8), to double up your money.

How many years FD will double?

than according to Rule 72 your invested money will be doubled in 72/8 = 9 years. This means if you invest Rs.1 lakh in Bank Fixed today than you will get Rs.2 lakhs if you stay invested for 9 years.

Does money double every 7 years?

The Rule of 72 states that the amount of time required to double your money equals 72 divided by your rate of return. For example: If you invest money at a 10 percent return, you will double your money every 7.2 years. If you invest at a 7 percent return, you will double your money every 10.2 years.

Can I double my money in 5 years?

This is the number of years it will take for your money to double. For example, if your money is earning an 8 percent interest rate, you’ll double your money in 9 years (72 divided by 8 equals 9). Or, if your money is earning a 5 percent interest rate, you’ll double it in 14.4 years (72 divided by 5 equals 14.4).

At what annual rate of interest compounded yearly Will money double in 8 years?

When interest is compounded annually, a single amount will double in each of the following situations: The Rule of 72 indicates than an investment earning 9% per year compounded annually will double in 8 years.