# If $50 is invested at 6 percent interest. How long will it take to double?

##### 1 Answer

Nov 11, 2016

16 years and 8 months with simple interest earned

11 years and 11 months with compound interest earned

#### Explanation:

The time will differ between an investment with compound interest and with simple interest. It will happen sooner with Compound interest.

**Simple interest:**

In order to double in value, the interest must be

16 years and 8 months to double with simple interest

**Compound interest**

In order to double, the Amount must be