Sylvia invested 500 in an account compounded annually with an interest rate of 8%. Manuel invested 600 in an account with a comp ound interest rate of 7.25% . Using the rule of 72, who will double their money first
1 answer:
Answer:
Sylvia's investment would double first
Step-by-step explanation:
The number of years it takes for amount invested to double itself using the 72 rule is 72 divided by rate of interest as computed below:
Sylvia investment:
Sylvia's investment would double in 9 years' time (72/8)
Manuel's investment"
Manuel investment of $600 would double itself in 9.9 years' time (72/7.25)
From the above analysis,Sylvia's investment of $500 at the 8% rate of interest would double first
You might be interested in
Y = -3/4x + 3
They would each get 1 muffin ( 18/9=2)
Answer:
30:54
Step-by-step explanation:
5:9 x 6 = 30:54
While both a and c work the most likely answer that they want would be A because it represent the cents already and it shows all possible ways that those two values can be split among 1 dollar
Answer:
0.375
Step-by-step explanation:
