Question: please show detail working TIME TO ACCUMULATE A GIVEN SUM John wishes to determine how long it will take an initial deposit of $100 000

please show detail working

TIME TO ACCUMULATE A GIVEN SUM

John wishes to determine how long it will take an initial deposit of $100 000 to double.

If John earns 10% annual interest on the deposit, how will it take for him to double his money. [2 marks]

How long will it take if he earns 6% annual interest rate. [2 marks]

Based on your findings in a and b, indicate what relationship exists between the interest rate and the amount of time its take for him to double his money [3 marks]

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