Take twice as long to double your money

Reference no: EM131039933

You have $100 to invest. If you can earn 12% interest, about how long does it take for your $100 investment to grow to $200? Suppose the interest rate is just half that, at 6%. At half the interest rate, does it take twice as long to double your money? Why or why not? How long does it take?

Reference no: EM131039933

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