Manual wishes to determine how long it will take an initial deposit of 12000 to

Question

Manual wishes to determine how long it will take an initial deposit of 12000 to double
Of manual earns 8% annual interest on deposit how long will it take for him to double his money in years How long will it take if he earns only 5% annual interest in years How long will it take if he can earn 10% annual interest in years Review your findings in the above parts and indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money is it A) the higher the rate of interest the more time is required to accumulate a future sum B) the higher the rate of interest the less time is required to accumulate a given future sum C) the lower the rate of interest the less time is required to accumulate a given future sud) the interest rate does not affect how long it will take to accumulate a given future value Manual wishes to determine how long it will take an initial deposit of 12000 to double
Of manual earns 8% annual interest on deposit how long will it take for him to double his money in years How long will it take if he earns only 5% annual interest in years How long will it take if he can earn 10% annual interest in years Review your findings in the above parts and indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money is it A) the higher the rate of interest the more time is required to accumulate a future sum B) the higher the rate of interest the less time is required to accumulate a given future sum C) the lower the rate of interest the less time is required to accumulate a given future sud) the interest rate does not affect how long it will take to accumulate a given future value Manual wishes to determine how long it will take an initial deposit of 12000 to double
Of manual earns 8% annual interest on deposit how long will it take for him to double his money in years How long will it take if he earns only 5% annual interest in years How long will it take if he can earn 10% annual interest in years Review your findings in the above parts and indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money is it A) the higher the rate of interest the more time is required to accumulate a future sum B) the higher the rate of interest the less time is required to accumulate a given future sum C) the lower the rate of interest the less time is required to accumulate a given future sud) the interest rate does not affect how long it will take to accumulate a given future value
Of manual earns 8% annual interest on deposit how long will it take for him to double his money in years How long will it take if he earns only 5% annual interest in years How long will it take if he can earn 10% annual interest in years Review your findings in the above parts and indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money is it A) the higher the rate of interest the more time is required to accumulate a future sum B) the higher the rate of interest the less time is required to accumulate a given future sum C) the lower the rate of interest the less time is required to accumulate a given future sud) the interest rate does not affect how long it will take to accumulate a given future value

Explanation / Answer

Here it will be estimated using formula 72

Number of year to double money = 72 / interest rate

1) Number of year to double money when interest rate is 8% = 72 / 8 = 9 years

2) Number of year to double money when interest rate is 5% = 72 / 5 = 14.4 years

3) Number of year to double money when interest rate is 10% = 72 / 10 = 7.2 years

Question 2:

B) the higher the rate of interest the less time is required to accumulate a given future sum

is the right option

It has been approved above as at higher interest rate of 10% , it takes lower time to accumlate the sum to double as compared to 5% and 8 %.

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