Question

If you earn an annual interest rate of 9.9 percent, how many years will it take to quadruple your money?

Answer 1

The number of years it would take the money to quadruple is 14 years.

What is the number of years?

Quadruple means four times. For example is $100 is invested, if the investment quadruples in value, it becomes $400.

The formula that can be used to determine the number of years it would take the investment to quadruple is:

Number of years = (In FV / PV) / r

Where:

• FV / PV = 4
• r = 9.9%

Number of years = IN 4 / 0.099 = 14 years

To learn how to calculate the number of years, please check: https://brainly.com/question/12133078

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