Time Needed to Double your Money

Time Value of Money
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David Sutton

Time Needed to Double your Money

How long does it take approximately to double $9,000 at a compound rate of 8% per year?

  Jaap de Jonge
Editor, Netherlands
 

Time Needed for Doubling your Money

You can estimate the time needed to double any amount of money with the Rule of 72.
In your example this would mean 72 / 8% = 9 years.

  geevis
 

The Time it Takes to Double an Investment

Indeed 9 years(approx), can be estimated using the rule of 72. This rule is useful to make approx calculations as to how much time it will take for an amount to double, given rate of interest or time period and of course a principal sum.

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