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9.0065 years.

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14y ago
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Q: How many years will it take for money to double at the effective rate of 8 percent?
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Related questions

How long will it take for your money to double in the bank at 4 percent interest?

It will take 18 years.


How long will it take to double your money if it grows at 12 percent annually?

Six years at 12%


How long does it take for 2000 dollars to double up at 6 percent on your money?

Twelve years at 6%


How many years does it take you money to double if it earns 1 percent per year?

jo mama


What time will be required for a sum of money to double itself at 5 percent simple interest?

20 YEARS


How long will it take to double your money at 8 percent interest rate and continuous compounding?

Nine years at 8%


If a Bank account has a nominal annual rate of 7.23 percent compounded annually how many years will it take to double your money?

10 years


How many years does it take your money to double if it earns 1 percent per year?

Approx 69.661 years if the interest is compounded. 100 years otherwise.


What time will be required for a sum of money to double itself at 5 percent simple interest full disclose?

It will take 20 years.


You deposit money today into an account at 6.5 percent interest how long to double your money?

About 11 years. (One quick way to find out how fast your money will double is through the Rule of 72. Divide 72 by the interest rate you're getting--in this instance, 6.5%. 72 divided by 6.5 = 11.07. So, it will take a little over 11 years for your money to double.)


Is it true that it will take money in savings 14.2 years to double at 5 percent interest compounded annually?

Yes, that's an accurate number.


How long will it take to triple your money at 4.6 percent?

There is what's called the "rule of 72" which states, you divide the percent into 72 and that tells you how log it takes to double your money. For example, 4.6 goes into 72 15.65 times. So, it would take 15.65 years to double your money. That's not too good of an investment. 72 ÷ 4.6 = 15.65