You can track how long it takes to double your investment if you deposit money at a specific interest rate. For interest rates that fall between the rates in the chart, remember that the time will fall in between also.
Interest Rate Compounded Quarterly | Amount of Time Needed to Double |
---|---|
2% | ª 34.7 years |
3% | ª 23.2 years |
4% | ª 17.4 years |
5% | ª 13.9 years |
6% | ª 11.6 years |
7% | ª 10.0 years |
8% | ª 8.8 years |
9% | ª 7.8 years |
10% | ª 7.0 years |
11% | ª 6.4 years |
12% | ª 5.9 years |
13% | ª 5.4 years |
14% | ª 5.0 years |
15% | ª 4.7 years |
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Source:http://www.dummies.com/how-to/content/earning-money-through-interest.html
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