Answer the question for each scenario by applying the rule of 72. how many years will it take each situation to double its money? situation a: matthew invests $5,000 in an account with a compound interest rate of 12%. situation b: morgan invests $2,500 in an account with a compound interest rate of 8%. situation c: maysen invests $10,000 in an account with a compound interest rate of 4.5%. whose money will double fastest?

Matthew's money will double fastest in 6 years.

Step-by-step explanation:

In this question we have to calculate, how many years it will take each situation to double its money by the rule of 72.

formula = where R = Rate of interest

Situation A :

Matthew invests $5,000 in an account with a compound interest rate of 12%.

So   = 6 years

It will take 6 years to double the investment.

Situation B :

Morgan invests $2,500 in an account with a compound interest rate of 8%.

So   =  9 years

It will take 9 years to double the investment.

Situation C :

Maysen invests 10,000 in an account with a compound interest rate of 4.5%

So   = 16 years

It will take 16 years to double the investment.

Matthew's money will double fastest in 6 years.

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