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PART 2 Financial Tools LG Personal Finance Problem P5-59 Time to accumulate a given sum Manuel Rios wishes to determine how long it will take

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PART 2 Financial Tools LG Personal Finance Problem P5-59 Time to accumulate a given sum Manuel Rios wishes to determine how long it will take an initial deposit of $10,000 to double. a. If Manuel earns 10% 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 7% annual interest? c. How long will it take if he can earn 12% annual interest? d. Reviewing your findings in parts a, b, and c, indicate what relationship exists be- tween the interest rate and the amount of time it will take Manuel to double his money

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