How long does it take for an investment to double?
Understand the Problem
The question is asking about the time required for an investment to double in value. This typically involves the use of the Rule of 72, which is a formula that estimates how long it will take for an investment to double in value based on a fixed annual rate of return.
Answer
The Rule of 72
The final answer is to use the Rule of 72
Answer for screen readers
The final answer is to use the Rule of 72
More Information
The Rule of 72 is a simple formula used to estimate the number of years required to double the investment at a fixed annual rate of return. It is calculated by dividing 72 by the annual interest rate.
Sources
- Rule Of 72: What It Is And How To Use it | Bankrate - bankrate.com
- The Rule of 72: What It Is and How to Use It in Investing - Investopedia - investopedia.com
- The Rule of 72: Definition, Usefulness, and How to Use It - investopedia.com
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