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Homework: HMSQ 2.1 Score: 0 of 2 pts 10 of 10 (8 complete) P5-59 (similar to) Time to accumulate a given sum Personal Finance Problem

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Homework: HMSQ 2.1 Score: 0 of 2 pts 10 of 10 (8 complete) P5-59 (similar to) Time to accumulate a given sum Personal Finance Problem Manuel Rios wishes to determine how long it will take an initial deposit of 59,000 to double. a. I Manuel ears 13% annual interest on the deposit, how long will it take for him to double his money? b. How long will it take if he earns only 10% annual interest? c. How long will it take if he can earn 15% annual interest? d. Reviewing your findings in parts a, b, and c, indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money. a. If Manuel cams 13% annual interest, the amount of time to double his money is years. (Round to two decimal places) Enter your answer in the answer box and then click Check Answer 3 parts remaining Type here to search o 2 EP

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