Research Maniacs     Directory  |   Follow  |   Search  


How long to double money at 5 percent?


Here we will show you how to calculate how long it will take to double your money with 5 percent interest.

Basically, you want to know how far into the future until your present investment, with 5 percent interest, will be twice as much.

The formula to calculate this is:

n = ln(2)/r

Where n is time, r is percent and ln(2) is 0.69314718056 per our calculator.

Therefore, the answer is simply 0.69314718056 / 0.05 which is

13.86 years


We assumed the 5 percent was the yearly rate. If the 5 percent is the monthly rate, then simply replace years with months above.

You may have heard of "the rule of 72", where you use 72 and 5 instead of 0.69314718056 and 0.05 as follows: 72/5 = 14.40 years.

The rule of 72 does not give the exact answer, as our answer did above, but it is good to know if you only need an approximate answer and you don't have access to Research Maniacs.





How long to double money?
Go here to enter another percent to see how long it takes to double your money.

How long to double money at 5.005 percent?
Go here to see how long it takes to double the next percentage on our list of calculations.




 


Copyright  |   Privacy Policy  |   Social Media  |   Disclaimer  |   Contact  |   Advertise