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Home > Business & Careers > Accounting   »   Lump sum to double-Interest

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Old Jan 14, 2007, 08:29 PM
ivory5130
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Lump sum to double-Interest
If you deposit money today into an account that pays 6.5 percent interest, how long does it take for your money to double?

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Old May 5, 2007, 02:57 AM   #2  
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The doubling period can be calculated by applying the following rules:

The rule 72

doubling period=72/the intrest rate.


More accuracy can be achieved by applying the rule 69

doubling period=0.35+69/intrest rate
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