SOLUTION: Assume that you have the same interest rate. Which amount takes longer to double - $1, $100, or $1,000,000.

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: Assume that you have the same interest rate. Which amount takes longer to double - $1, $100, or $1,000,000.       Log On


   

Question 636371: Assume that you have the same interest rate. Which amount takes longer to
double - $1, $100, or $1,000,000.

Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


For any given interest rate and compounding period, the time to double is completely independent of the amount of the investment.

John

My calculator said it, I believe it, that settles it
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