What interest rate will double money in 6 years?

about 12 percent
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.

At what interest rate does money double in 5 years?

For example if you wanted to double an investment in 5 years, divide 72 by 5 to learn that you’ll need to earn 14.4% interest annually on your investment for 5 years: 14.4 × 5 = 72. The Rule of 72 is a simplified version of the more involved compound interest calculation.

What interest rate will double money in 8 years?

9%
If you want your money to double every 8 years, you will need to earn an interest rate of 9% (72 divided by 8).

How long does it take to Double A simple interest rate?

The rule says divide 72 by your interest rate, and it will tell you the number of years it will take to double…. So with an interest rate of 7.2% you will get your investment to be doubled in (72/7.2=10) years. Oops, sorry someone just corrected me that the original question was about simple interest rate, and the answer for that is 10%…

What is the interest rate that doubles your sum in 10 years?

7% compounded rate of return will double your money in 10 years. As it happens, a 10% compounded rate will double your money in 7 years.

Is it possible to Double Your Money in 7 years?

At 10%, you could double your initial investment every seven years (72 divided by 10). In a less-risky investment such as bonds, which have averaged a return of about 5% to 6% over the same time…

How many times does a sum of money double?

The sum will become 4- times in 40- years. Takes 20 years to double the first time. Assume rate of return stays the same. Then it will take 20 years to double again. Or to get to 4x the original amount. So 20 years. An amount of money becomes 3 times in 15 years. What is the rate of interest?