How long would it take to triple an investment at 10 compounded annually?

How long will it take a money to triple itself at 10% compound interest?

In what time does a sum of money triple? A sum of money triples itself in 15 years 6 months.

How long does it take for an investment to triple compound interest?

hence to the nearest year, it will it take 18 years for an investment to triple, if it is continuously compounded at 6% per year.

How long will it take for money to double itself at 10% compounded monthly?

In reality, a 10% investment will take 7.3 years to double ((1.107.3 = 2). The Rule of 72 is reasonably accurate for low rates of return. The chart below compares the numbers given by the Rule of 72 and the actual number of years it takes an investment to double.

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How long in years will it take your money to triple at an annual percentage rate of 6% compounded annually?

It will approximately take 18 years 10 months.

How long will it take for an amount to become triple of itself at 20% per annum simple interest?

Answer Expert Verified

= 10 years . A sum becomes 3 times. Rate = 20% p.a.

How long will it take your money to triple at a rate of 9%?

For example, with a 9% rate of return, the simple calculation returns a time to double of eight years. If you use the logarithmic formula, the answer is 8.04 years—a negligible difference. In contrast, if you have a 2% rate of return, your Rule of 72 calculation returns a time to double of 36 years.

How long would it take to double your money in an account that paid 6% per year?

To use the Rule of 72 in order to determine the approximate length of time it will take for your money to double, simply divide 72 by the annual interest rate. For example, if the interest rate earned is 6%, it will take 12 years (72 divided by 6) for your money to double.

How long will it take for $7000 to double at the rate of 8?

The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.

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How long in years and months will it take for an investment to double at 13% compounded monthly?

1 Expert Answer

13 = 5.33 years and ln(2)/. 15 = 4.62 years.