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What is the interest rate to double money in seven years?
If you have an annual interest rate then is 10.405%
What is the formula for double growth annuity rate?
It is called the rule of 72. You take the interest rate you will be receiving and divide that number into 72. the answer will be the number of years it will take you to double your money at that interest rate.
What is rule 72?
How long it will take for your money to double/divide the annual interest rate into 72.
What interest rate do you need to double 500?
Any positive rate of interest - as long as you leave the money invested for long enough.
What interest rate is required for an investment with continuously compounded interest to double in 8 years?
It is approx 8.66%
If something has been sent to collection can the collection agency charge you interest?
If the original creditor charged interest then the collection agency will continue to accrue interest at either your states legal rate or whatever you agreed to in the original contract until the debt is either paid or sold to another collection agency or placed with an attorneys firm for legal litigation.
You owe a Capital One credit card from 2002 you just received a letter from a collection agency you suppose it is and the amount has more than doubled you only owed about 1200 and this bill says 4199?
Credit card Default-level Interest is a terrible thing. The Defaulted account interest rate can sometimes climb to over 25%. The reason your amount owed is so much higher than you remember is due to this increased interest rate, as well as various collection agecy fees that are often assessed. Most debt-management agencies can get that extra interest reduced/removed and lower the current interest rate. To avoid this in the future - pay your bills on time and make/stick to a budget.
Years of the world?
About 8 years to double (divide 70 by the interest rate), and presumably another 8 years to double again? This supposes compound interest. For simple interest, 11 years to double and 33 to quadruple.
What rate of simple interest is needed for 1000 to double in 3 years?
331/3 percent simple interest will double any amount in 3 years.
How does corporate bond ratings work?
The leading rating agencies give a rating when a bond is first issued, and that rating determines how high the interest rate on that bond is. A higher rating means the bond will have a lower interest rate.
In how many years your amount will be double if rate of interest is 10 percent annually in compound interest?
Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double. If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.
What is the rate of interest if a sum of money doubles itself in 10 years at simple interest?
A simple interest rate of 10 per cent per year will double a sum of money in ten years.
