Question

Yuri invests $2,000 in an account with compound interest at 6%. Maria invests $3,500 in an account with compound interest at 4%. Using the rule of 72, t = StartFraction 72 Over r EndFraction how many years with it take Yuri and Maria to double their money?
Yuri’s money will double in approximately 18 years, and Maria’s money will double in approximately 12 years.
Yuri’s money will double in approximately 12 years, and Maria’s money will double in approximately 18 years.
Yuri’s money will double in approximately 20 years, and Maria’s money will double in approximately 25 years.
Yuri’s money will double in approximately 25 years, and Maria’s money will double in approximately 20 years.

Answer 1

To determine how long it will take for Yuri and Maria to double their investments using the Rule of 72, we can follow these steps:

1. **Yuri**:
- Interest rate (r) = 6%
- Using the Rule of 72: \( t = \frac{72}{r} = \frac{72}{6} = 12 \) years.

2. **Maria**:
- Interest rate (r) = 4%
- Using the Rule of 72: \( t = \frac{72}{r} = \frac{72}{4} = 18 \) years.

Based on these calculations, we find that:

- Yuri’s money will double in approximately **12 years**.
- Maria’s money will double in approximately **18 years**.

Therefore, the correct answer is:
**Yuri’s money will double in approximately 12 years, and Maria’s money will double in approximately 18 years.**