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4 February, 09:56

At 6.5 percent interest how long does it take to double your money to quadruple it

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  1. 4 February, 10:12
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    Your money will double in approximately 11 years and quadruple in approximately 22.

    Use the Rule of 72 for doubling (72/interest rate = number of years to double) and the Rule of 144 to quadruple (144/interest rate = number of years to quadruple).
  2. 4 February, 12:58
    0
    The rule of 72 is a simple way to determine approximately when will someone's investment double.

    The formula for applying the rule of 72:

    number of years = 72 / interest rate = 72 / 6.5 = 11.08 ≈ 11 years

    if we want to know approximately when our investment will quadruple, we just multiply 11.08 x 2 = 22.16 ≈ 22 years
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