The Classic Way—Earning It Slowly
The rule of 72 is a famous shortcut for calculating how long it will take for an investment to double if its growth compounds.
Just divide 72 by your expected annual rate.
The result is the number of years it will take to double your money.
How can I double my money in a year?
If you divide your expected annual rate of return into 72, you can find out how many years it will take you to double your money. Let’s say, for example, that you expect to get returns of 10 percent a year. Divide 10 into 72, and you discover the number of years it takes you to double your money, which is seven years.
How can I double my money in a month?
- 25 ways to double your paycheck in one month.
- Make Money Off Your Clutter.
- Get Paid to Carpool.
- Use Your Free Credit Card Rewards.
- Pick Up Your Unclaimed Cash.
- Get Into DIY.
- Sell Your Blood.
- Become an Online Survey Taker.
How can I double my money quickly?
Here are some best 5 ways to double your money fast.
- Stock Market. Investments made in the stock market have always given a high rate of returns to people.
- Mutual Funds (MFs)
- National Savings Certificates.
- Corporate Deposits/Non-Convertible Debentures (NCD)
- Kisan Vikas Patra (KVP)
How many years FD will double?
Fixed Deposit: Currently, banks are offering an interest rate of around 6.25 per cent per annum on deposits with a maturity period of more than five years. Invest in an FD now and it will take 11 years for the money to double.