Time Needed to Double your Money
How long does it take approximately to double $9,000 at a compound rate of 8% per year?
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geevis, India
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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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