Want to Double your Money? Know how long it would take
The Double your Money Calculator is quite popular among those who are looking to invest their hard earned money or have already invested somewhere. It is also popularly known as Time to Double Money Calculator. Such Calculators are used by major financial institutions such as HDFC, ICICI, IDBI, etc. InvestmentYogi provides a very simple calculator for knowing the time taken for the invested or to be invested amount to double.
Why should you use this calculator?
If you are eager to know when your money will double, this is the one for you. Thousands of our users have used this to make better decisions with their investments. So can you.
How to use this calculator?
The entries to make are:
Rate of Return that you can generate on your investments p.a – Enter the rate of return (if) given for your investments or the rate of return that you expect your investments will generate in the future. This rate is per annum compounding.
This is the only entry that you need to make.
Once you have entered these values and clicked on submit, the result would be stating the number of years needed for your money to double.
When should you use this Calculator?
This calculator is to be used by those who are planning for investments or have started investments and are eager to know about doubling of their money.
Can it be used in any other situation?
This Double your Money Calculator is specifically for the above said purpose. It cannot be used in any other case.
Frequently asked questions about SIP
Some frequently asked questions related to SIP are answered in the following articles:
Mental Money and Mental Accounting – This is a very different article talking about our behavior towards money. Terms such as Windfall income are also explained here. It tells you how smart you need to be while dealing with money.
Educating Children about Money – Every parent has a dream to provide the best education to their children. They want them to progress in every field, whether it is related to studies, sports, music or any other activity. Many parents lack the promising vision for their child’s career. This article talks about the importance of financial education to children, which is as necessary as the above fields.
Note: Time to double the money can also be calculated from the Rule of 72 Formula. Time for the money to double is 72/rate of return (or) Rate of Return is 72/time for money to double.