8
QuizMultiple Choice
Investing
Question 8 • IC Sem B Algebra 2
Sylvia invested $500 in an account compounded annually with an interest rate of 8%. Manuel invested $600 in an account with a compound interest rate of 7.25%. Using the rule of 72, , who will double their money first?
Answer
A
Sylvia will double her money first, in approximately 9 years.B
Manuel will double his money first, in approximately 10 years.C
Manuel will double his money first, in approximately 9 years.D
Sylvia will double her money first, in approximately 10 years.