lnfrared Loaf
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double means 200%. |
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Faerie loue
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5.5 mo. is as close as I could get, to tired----ahhh haaa!-.rule of 72: Information from Answers.comThe E-M Rule multiplies this by 200/(200-18), giving a doubling time of 4.23 years, ... A note on the rule of 72 or how long it takes to double your money, ...
www.answers.com/topic/rule-of-72 - 56k - Cached - Similar pages
INTERNET: Closing How Silly!!! It's right on the net!! |
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just a regular guy
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In the bank means a taxable investment so the rule of 72 does not apply. It only works with tax deferred investments. But I guess if you don't claim it and cheat on your taxes it wouldn't make a difference any way |
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richhaley
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If what you mean is that you have $200 that is compounded annually by 18%...a littlle over 4 years |
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l8ntpianist
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hmmmmm yearly i came with just over 3 but in my head. first yr is 36+200,2nd is |
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a2z_4me
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It would double just as fast as you could deposit another $200.
Just think, if you had around $800,000 in a passbook account you could earn around $1600 month. Better start looking for other ways to make money, saving wont cut it. At $200 a month it will only take you around 300 years. At $400 month 150 Years, at $800 month $75 years, at $1600 month 35 years.
Woot Woot |
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Shakespeare, William
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4.1878 years |
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ABC123
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well it depends on the banks interest rate |
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DDRFreak007
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That depends on how often it *ahem* "doubled" by 18% and whether the interest is compound or simple. Give us more information and we can answer your problem (which DOES sound like math homework) more completely. |
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x
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1.18 ^ t = 2
log 2 / log 1.18 = 4.18 years. |
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chicata25
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Well that would depend on if its 18% per month, 6 months or a year.
If its a year heres the math to find out how much 18%
200(18)=$36.00
So in 1 year you would get $236.00 thus making $36.00 |
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vimalaha v
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4years |
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like2bcreative
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Rule of 72 - divide 72 by the interest rate and you get the number of years it takes to double your money. At 18% - your money will double in 4 years. |
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Laissez-Faire Guy
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Same rule of 72 when you asked the same question, but at 7%.
18 goes into 72 4 times, so 4 years. |
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