How many years will it take to double your money?
Ever wondered how long would it take to double your money in a bank savings account, a mutual fund investment or an existing stock portfolio? It’s never too early to think about how long it will take your money to grow. Money Monkeys has a series of financial calculators you can try – Use our Double Your Money Calculator to find out.
Interesting Trivia: Rule of 72
Did you know that one of Albert Einstein’s greatest discovery was the Rule of 72? He states that any number divided by its corresponding interest rate, would generate the number of years it would take before the said amount doubles.
Double Your Money Calculator
Use this calculator to determine the number of years it would take for your money to double:
Note: Please input a whole number in the Interest Rate field (eg. 1%, 2%, 3%, 4%, 5%). Placing a decimal number might generate an inaccurate calculation.
How to Use our Calculator
- Investment Amount – your initial fund, capital or the money you placed in a financial institution
- Investment Rate – the rate your financial institution offered you (ex. interest rate, mutual funds projected returns, stock market projected return)
Financial literacy is one of the least priorities of Filipinos. But with all the financial worries a working Filipino encounters, it just goes to show that financial security is one of the most important aspects in life. Money Monkeys has a series of financial tools, articles and calculators that aim to aid the average Filipino in computing and assessing their future financial needs.
Quick and Easy Financial Calculator
Ever wondered how much you will need to retire in style? Check our Retirement Calculator.
Ever wondered how much a morning cup of coffee would cost you after 15 years? Try out our Inflation Calculator.