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Time to accumulate a given sum Personal Finance Problem Manuel Rios wishes to determine how long it will take an initial deposit of $8,000 to
Time to accumulate a given sum Personal Finance Problem Manuel Rios wishes to determine how long it will take an initial deposit of $8,000 to double. a. If Manuel earns 7% 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 5% annual interest? c. How long will it take if he can earn 8% annual interest? a. How long will it take for Manuel to double his money? years (Round to two decimal places.) b. How long will it take if he earns only 5% annual interest? years (Round to two decimal places.) c. How long will it take if he can earn 8% annual interest? years (Round to two decimal places.)
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