Doubling time - simple interest
 

 

 

The doubling time for simple interest is simply 1 divided by the periodic rate. The formula for doubling time with simple interest is used to calculate how long it would take to double the balance on an interesting bearing account that has simple interest.

Simple interest is interest earned based solely on the principle. In contrast, compound interest is interest earned on principle along with prior interest earned.

Reference: financeformulas.net