Mathematics, 30.04.2021 07:10 destiny465
I WILL GIVE BRAINLIEST PLEASE HELP FULLY (pt 2)
2. Mauricio plans on retiring in 20 years, and he wants to double his money by that time. He has contacted various banks, looking for a CD that compounds interest monthly, and to calculate what annual interest rate he needs, he is using the rule of 72. (3 points: Part I – 1 point; Part II – 1 point; Part III – 1 point)
Part I: What is the rule of 72? To represent the annual interest rate, use r.
Part II: What equation can Mauricio set up to solve for the annual interest rate he needs to double his money by the time he retires?
Part III: What annual interest rate does Mauricio need to double his money by the time he retires?
Answers: 2
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I WILL GIVE BRAINLIEST PLEASE HELP FULLY (pt 2)
2. Mauricio plans on retiring in 20 years, and he...
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