Mathematics, 22.04.2020 19:00 imthatsavageboi

Ted and Alan are in a race to double their money. Ted feels he will win if he puts his $4,000 into a savings account offering 4.5% interest compounded annually. Alan feels he will win because he intends to put his $1,000 into a savings account offering 6% interest compounded annually. Using the rule of 72, StartFraction 72 Over r EndFraction , who will win, and how many years will it take to double his money?

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Ted and Alan are in a race to double their money. Ted feels he will win if he puts his $4,000 into a...

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