Time to accumulate a given sum personal finance problem manuel rios wishes to determine how long it will take an initial deposit of $12 comma 00012,000 to double.
a. if manuel earns 1313% annual interest on the deposit, how long will it take for him to double his money?
b. how long will it take if he earns only 1010% annual interest?
c. how long will it take if he can earn 1515% annual interest?
d. reviewing your findings in parts a, b, and c, indicate what relationship exists between the interest rate and the amount of time it will take manuel to double his money.
a. if manuel earns 1313% annual interest, the amount of time to double his money is nothing years. (round to two decimal places.)
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