How long would it take for money to triple in value at 20 a year simple interest?

How long would it take for money to triple in value at 20 a year simple interest?

10
Answer and Explanation: The calculated number of years it would take for money to triple in value at 20\% per year simple interest is 10 .

How long does it take for an investment to triple in value if it is invested at 6 compounded monthly?

It will approximately take 18 years 10 months.

How many years will it take an investment to triple if the interest rate is 8\% compounded monthly?

Answer and Explanation: The answer to the question is 14.3 years.

How many years will it take for an investment to triple itself if the interest rate is 12\% compounded annually?

t= 7.32 years (7 years 117 days).

How long will it take any sum to triple itself at 5\% simple interest rate?

Detailed Solution. Given: The sum of money triples itself. ∴ The number of years by which a sum will triple itself at 5\% p.a is 40 years.

How long will an amount of money triple at a simple interest rate of 1 per annum?

To triple your money this goes to the rule of 115. 1\% divided into 115 is 115 years to triple your money at 1\% interest. In about 105 years.

How long would it take an investment to triple if the interest rate is 6\% compounded annually?

hence to the nearest year, it will it take 18 years for an investment to triple, if it is continuously compounded at 6\% per year.

What rate of interest compounded annually is required to triple an investment?

3.86\%
At a rate of interest of 3.86\% compounded annually investment will be tripled.

How long will it take an investment to triple if it is invested into an account with 4\% continuously compounding interest?

The exponential function in the initial formula means we would have to use natural logarithms to solve for the answer. t= 7.32 years (7 years 117 days).

At what rate of interest compounded annually will an investment triple in 10 years?

If you are considering money to be compounded every year, then it needs to be invested at 11.6\% per annum to be tripled in 10 years.

What rate of interest compounded annually is required to triple an investment in 16 years?

At a rate of interest of 3.86\% compounded annually investment will be tripled.

At what rate simple interest will a sum of money Triple itself in 8 years?

Answer: 25\% is the rate of interest when principal amount triples in 8 years.

What is an example of 6\% interest compounded monthly?

For example: assume you deposit 100 dollars in a bank account and the bank pays you 6\% interest compounded monthly. This means the nominal annual interest rate is 6\%, interest is compounded each month (12 times per year) with the rate of 6/12 = 0.005 per month, and you receive the interest at the end of each month.

What is the formula for nominal annual interest rate?

Nominal Annual Interest Rate Formulas: Suppose If the Effective Interest Rate or APY is 8.25\% compounded monthly then the Nominal Annual Interest Rate or “Stated Rate” will be about 7.95\%. An effective interest rate of 8.25\% is the result of monthly compounded rate x such that i = x * 12.

How do you calculate effective interest rate per compounding period?

Also calculates the interest rate per compounding interval. Where i = I/100 and r = R/100; nominal interest rate per period, r = m × [ (1 + i) 1/m – 1 ]. Effective interest rate for t periods, i t = (1 + i) t – 1. The rate per compounding period P = R / m, in percent.

What is the difference between quarterly and monthly compounding?

For example, if the financial agency reports quarterly compounding interest, it means interest will be compounded four times per year and you would receive the interest at the end of each quarter. If the interest is compounding monthly, then the interest is compounded 12 times per year and you would receive the interest at the end of the month.