Manual wishes to determine how long it will take an initial deposit of 12000 to double

Of manual earns 8% annual interest on deposit how long will it take for him to double his money in years

How long will it take if he earns only 5% annual interest in years

How long will it take if he can earn 10% annual interest in years

Review your findings in the above parts and indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money is it

A) the higher the rate of interest the more time is required to accumulate a future sum

B) the higher the rate of interest the less time is required to accumulate a given future sum

C) the lower the rate of interest the less time is required to accumulate a given future sud) the interest rate does not affect how long it will take to accumulate a given future value