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

After 1 year, which means t is 1 Amount to pay after 1 years=p+p So assuming the principal amt is 50dollar and the interest is 15% After 20 years 100%=50 15%=7.5 20*15=150 The total is 150+50=200
3)Calculating compound interest

P=principle amount
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)

E.g principle of an amount is $50 Time: Have to pay for 3 years N=number of time that will be compound is 4 I=interest is 10% compound annually 50((1+(0.10/4))^(3*4) =67.49
A debtor=the person that borrow the money A creditor=the person that is owed


Asset=an asset is something that will give you economic benefits in the future Cash is