Question

How long will it take for a principal to double if money is worth 6% compounded
continuously?​

Answer 1

Step-by-step explanation:

To use the Rule of 72 in order to determine the approximate length of time it will take for your money to double, simply divide 72 by the annual interest rate. For example, if the interest rate earned is 6%, it will take 12 years (72 divided by 6) for your money to double

Answer 2

Answer:

For quick estimations of how long it takes to double the money on an investment, some may choose to use the rule of 72. The rule of 72 is found by dividing 72 by the rate of interest expressed as a whole number. For example, a rate of 6% would be estimated by dividing 72 by 6 which would result in 12 years.

so then if it comes to matter of 5% than...

you just use 100 instead of 72. For example, at 5% annual interest, it would take 20 years to double your money (100 / 5 = 20).