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grin007 [14]
3 years ago
12

Yuri invests $2,000 in an account with compound interest at 6%. Maria invests $3,500 in an account with compound interest at 4%.

Using the rule of 72, T=72/R how many years with it take Yuri and Maria to double their money?
Mathematics
2 answers:
Ronch [10]3 years ago
6 0
B <span>Yuri’s money will double in approximately 12 years, and Maria’s money will double in approximately 18 years.

</span>
Zolol [24]3 years ago
3 0

Answer:

Yuri's money would double approximately in 12 years and Maria's money would double approximately in 18 years.

Step-by-step explanation:

By using Rule of 72, (\frac{72}{r}) we can calculate how many years it would take money to double.

Yuri invests $2,000 in an account with compound interest at 6%

Therefore, we use this formula (\frac{72}{r}) where r = rate of interest.

= (\frac{72}{6}) = 12 years

Maria invests $3,500 in an account with compound interest at 4%

= (\frac{72}{4}) = 18 years

Yuri's money would double approximately in 12 years and Maria's money would double approximately in 18 years.

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