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To double your money in 12 years, you would need a return on investment (ROI) of approximately 6.17 per year.

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5mo ago

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Do you need an ID to cash a money order?

Yes, you typically need a valid form of identification to cash a money order, such as a driver's license or passport.


Do you need an ID to get a money order?

Yes, typically you need to show a valid form of identification, such as a driver's license or passport, to purchase a money order.


Do I need a Wise account in order to receive money?

Yes, you need a Wise account to receive money.


What is the rule of 72 in savings and investments?

The rule of 72 is a quick and very accurate method of determining how long it takes for money to double at a specified rate of interest, compounded annually. For example, using the rule of 72 with a compounded interest rate of 6% it would take 12 years to double your money (72 divided by 6). The precise amount of time it takes to double your money at 6% based on the actual computation of compounded interest is 11.9 years. The rule of 72 works very well unless the rate of interest exceeds 20% at which point the error rate starts to deviate substantially from the actual answer. The rule of 72 can also be used to figure out what rate of interest you need to double your money in a specified number of years. For example, if you want to double your money in 5 years, divide 72 by 5 and the interest rate needed is 14.4%.


Can you find out who cashed a money order?

Yes you can. All you need to do is just visit the bank/organization that issued the money order and provide the money order number. They will be able to check and tell you who cashed the money order and when from their records.

Related Questions

What interest rate would an investor need to earn in order to double the value in 6 years?

12%


How do you track Walmart money order?

There are a few things to do in order to track a Walmart money order. First you need to contact the number on the back provided when you purchased the money order. You will need to provide the account information and other specifics from the money order to have it tracked.


Can you buy something with a money order that was signed to you?

No. You would need to cash the money order first.


Do you need an ID to cash a money order?

Yes, you typically need a valid form of identification to cash a money order, such as a driver's license or passport.


Do you need an ID to get a money order?

Yes, typically you need to show a valid form of identification, such as a driver's license or passport, to purchase a money order.


Do I need a Wise account in order to receive money?

Yes, you need a Wise account to receive money.


Can you find out who cashed a money order?

Yes you can. All you need to do is just visit the bank/organization that issued the money order and provide the money order number. They will be able to check and tell you who cashed the money order and when from their records.


What is the rule of 72 in savings and investments?

The rule of 72 is a quick and very accurate method of determining how long it takes for money to double at a specified rate of interest, compounded annually. For example, using the rule of 72 with a compounded interest rate of 6% it would take 12 years to double your money (72 divided by 6). The precise amount of time it takes to double your money at 6% based on the actual computation of compounded interest is 11.9 years. The rule of 72 works very well unless the rate of interest exceeds 20% at which point the error rate starts to deviate substantially from the actual answer. The rule of 72 can also be used to figure out what rate of interest you need to double your money in a specified number of years. For example, if you want to double your money in 5 years, divide 72 by 5 and the interest rate needed is 14.4%.


Need a money order claim card?

yes


What did Britain need in order to pay for the law?

money


Can you track my money order?

They have the information you need to track it


How can I obtain a money order to pay for my passport application?

To obtain a money order for your passport application, you can visit a bank, post office, or retail store that offers money order services. You will need to provide the amount you need, pay the fee, and receive the money order, which you can then use to pay for your passport application.