SOLUTION: if you invested $5000 at 12%, how long would it take to double in value?

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Question 268810: if you invested $5000 at 12%, how long would it take to double in value?
Answer by mananth(16946) About Me  (Show Source):
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if you invested $5000 at 12%, how long would it take to double in value?
If the principal has to double then one should get an interest of the same amount as invested.
Principal value = $ 5000
Interest = $5000
Rate =12%
time of deposit = 100 * interest / Principal amount * rate
100 * 5000 / 12* 5000
= 100/12
=8.33 years