17 years
If the interest rate was eight percent, it would take about 9 years to double your principle.
6.7 percent as a rate = 6.7%
There's a rule of thumb for "double your money" problems: Time = 70/interest rate, so in this case approx 7 years.
How long it will take for your money to double/divide the annual interest rate into 72.
No, 0.01 is not written as 0.01% in percent rate. 0.01 in percent rate is 1%.
27.6 yearst = 0.69 / r where r is the growth rate
Nine years at 8%
20 years
8 years.
As a rough guide to double any amount compounded annually, divide 70 by the interest rate. In this case that is 14 years.
72/9 ie 8 years
To double takes, don't ask me why, 70/x years where x is the interest rate, so 14 years give or take a month or two.
9.0065 years.
The usury rate in Arizona is 10.0 percent as long as that rate was agreed to in writing. This does not apply to corporations since they do not have a special rate.
Any positive rate of interest - as long as you leave the money invested for long enough.
Use the "rule of 72"...simply put, using compound interest you take the number 72 and divide it by the interest rate. Thus, at 5% the time to double is 14.4 years. This formula can be used for calculating a "double" for any interest rate using the same mathematical procedure.
If the interest rate was eight percent, it would take about 9 years to double your principle.