Double your money-Rule of 72 . Approximately how long will it take to double your money if you get
an annual return of , or on your investment?
Approximately how long will it take to double your money if you get a annual return on
your investment?
15.65 years (Round to two decimal places.)
Approximately how long will it take to double your money if you get a annual return on
your investment?
years (Round to two decimal places.)

Ask by Vaughn Medina. in the United States

Jan 22,2025

Question

Double your money-Rule of 72 . Approximately how long will it take to double your money if you get
an annual return of , or on your investment?
Approximately how long will it take to double your money if you get a annual return on
your investment?
15.65 years (Round to two decimal places.)
Approximately how long will it take to double your money if you get a annual return on
your investment?
years (Round to two decimal places.)

Ask by Vaughn Medina. in the United States

Jan 22,2025

UpStudy AI · Accepted Answer

To determine how long it will take to double your money using the **Rule of 72**, you can use the following formula:

$$
\text{Years to Double} = \frac{72}{\text{Annual Return Rate (\%)}}
$$

Let's apply this to the given annual return rates:

1. **4.6% Annual Return**
   $$
   \text{Years to Double} = \frac{72}{4.6} \approx 15.65 \text{ years}
   $$
   
2. **6.5% Annual Return**
   $$
   \text{Years to Double} = \frac{72}{6.5} \approx 11.08 \text{ years}
   $$
   
3. **10.4% Annual Return**
   $$
   \text{Years to Double} = \frac{72}{10.4} \approx 6.92 \text{ years}
   $$

**Summary:**
- **4.6% Return:** Approximately **15.65 years**
- **6.5% Return:** Approximately **11.08 years**
- **10.4% Return:** Approximately **6.92 years**

These calculations provide a quick estimation of how long it will take to double your investment based on different annual return rates.
To double your money: - **4.6% annual return:** Approximately **15.65 years** - **6.5% annual return:** Approximately **11.08 years** - **10.4% annual return:** Approximately **6.92 years** These estimates use the Rule of 72 for quick calculations.

Upstudy AI Solution

Answer

Solution

Extra Insights

Related Questions

Latest Economics Questions