Answer:
Matthew's money will double fastest in 6 years.
Step-by-step explanation:
In this question we have to calculate, how many years it will take each situation to double its money by the rule of 72.
formula = where R = Rate of interest
Situation A :
Matthew invests $5,000 in an account with a compound interest rate of 12%.
So = 6 years
It will take 6 years to double the investment.
Situation B :
Morgan invests $2,500 in an account with a compound interest rate of 8%.
So = 9 years
It will take 9 years to double the investment.
Situation C :
Maysen invests 10,000 in an account with a compound interest rate of 4.5%
So = 16 years
It will take 16 years to double the investment.
Matthew's money will double fastest in 6 years.