What Interest Rate Doubles Your Money In 7 Years?

You can also run it backwards: if you want to double your money in six years, just divide 6 into 72 to find that it will require an interest rate of about 12 percent.

Compound Interest Curve.

YearsBalance
Now$100
7$200(doubles every
14$400seven years)
21$800

How many years will it take you to double your money if your rate of return is 7% annually?

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.

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.

How 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).

How long does it take for your money to double in the stock market?

At 12%, you could double your initial investment every six years (72 divided by 12). In a less-risky investment such as bonds, which Standard and Poor’s says have averaged about 6% over the same time period, you could expect to double your money in about 12 years (72 divided by 6).25 Jun 2019

How can I double my money in a year?

If you divide your expected annual rate of return into 72, you can find out how many years it will take you to double your money. Let’s say, for example, that you expect to get returns of 10 percent a year. Divide 10 into 72, and you discover the number of years it takes you to double your money, which is seven years.

What is the rule of 7?

The Rule of 7 is a marketing principle that states that your prospects need to come across your offer at least seven times before they really notice it and start to take action.

At what rate of interest per annum will a sum double itself in 8 years?

Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

At what rate percent per annum will a sum of money double in 8 years.

A) 7.2%B) 8%
C) 8.5%D) 9.3%

How can I double my money?

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HOW TO DOUBLE YOUR MONEY – YouTube

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What is the best ROI percentage?

A really good return on investment for an active investor is 15% annually. It’s aggressive, but it’s achievable if you put in time to look for bargains. You can double your buying power every six years if you make an average return on investment of 12% after taxes and inflation every year.