1)How long does it take to double your money?
Use the rule of 72 to calculate For example, if the percentage is 10% annually, you will take 72/10=7.2 yr to double your money 2)Calculating simple interest
P=principles amount
I=interest
T=time
3)Calculating compound interest
P=principle amount
I=interest
T=time
N=number of time that will be compound in that year
Formula for calculating compound interest:P((1+(r%/n))^(n*t) simplified to p(E^r%t)
4)
A debtor=the person that borrow the money A creditor=the person that is owed
5)