A sum of money doubles itself in 5 years. In how many years will it become four-fold (if interest is compounded)?

Question

A sum of money doubles itself in 5 years. In how many years will it become four-fold (if interest is compounded)?
🧐 Not the exact question you are looking for?Go ask a question

Solution 1

This problem can be solved using the rule of 72, which is a simple way to determine how long an investment will take to double, given a fixed annual rate of interest.

  1. The rule of 72 states that the time required to double an investment with a certain annual interest rate is approximately 72 div Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

This problem has been solved

Similar Questions

A sum of money doubles itself in 5 years. In how many years will it become four-fold (if interest is compounded)?

A sum of money doubles itself in 7 years. In how many years it becomes four fold?

A sum of money doubles itself in 5 years at compound interest. In how many years will it become 8 times?

A sum of money doubles itself in 5 years at compound interest. In how many years will it become 8 times? Options 10 years 20 years 15 years 25 years

A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in?Options45 years48 yearsNone of these54 years60 years

1/3