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-   -   How to calculate time for a lump sum to double (https://www.askmehelpdesk.com/showthread.php?t=312121)

  • Feb 2, 2009, 04:30 PM
    kcupid1
    How to calculate time for a lump sum to double
    If you deposit money today in an account that pays 6.5 percent annual interest, how long will it take to double your money?
  • Feb 2, 2009, 04:57 PM
    Colin Pye

    Simple interest, compounded annually, 12 years.
    Compounding quarterly, monthly, or daily will reduce the time.

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