Question

In approximately, how many years would you expect to
double your money at 8% per annum ?
8 years
12 years
9 years
10 years

Answer 1

Answer:

nine years

The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.