You want to invest an amount of money today and receive back twice that amount in the future. You expect to earn 6 percent interest. Approximately how long must you wait for your investment to double in value?

12 years

Explanation:

The computation of the number of years is shown below:

Future value = Present value * (1 + rate) ^number of years

where,

Present value = $100

Rate of interest = 6%

The future value = $200

$200 = $100 * (1 + 0.06) ^number of years

2 = (1 + 0.06) ^number of years

So after solving this, the number of years is 12 years