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, 7, who will double their money first?
Sylvia will double her money first, in approximately 9 years.
Manuel will double his money first, in approximately 10 years.
Manuel will double his money first, in approximately 9 years.
Sylvia will double her money first, in approximately 10 years.