Jasper has $1,000 invested at 8% interest. How long will it take him to double his money?

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asked Jul 19, 2017 198k views

1 Answer

Levi Morrison · Answer 1 · 2017-07-24T17:21:01+0000

To answer the question above as to how long it will take for Jasper to double is money:
If the is on monthly basis, it will take 25 months. See calculation below:
Interest: $1,000 x 0.08 = $80 x 25 months = $2000.

Jasper has $1,000 invested at 8% interest. How long will it take him to double his money?

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