Time to accumulate a given sum Personal Finance Problem Manuel Rios wishes to determine how long it will take an initial deposit of $7,000 to double al Manuel earns 12% annual interest on the deposit, how long will it take for him to double his money? b. How long wil it take it he earns only 9% annual interest? c. How long wil it take if he can earn 14% annual interest? d. Reviewing your findings in parts a, b, and indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money d. Reviewing your findings in parts a, b, and c, indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money. (Select the best answer below) O A. The higher the rate of interest, the less time is required to accumulate a given future sum OB. The lower the rate of interest, the less time is required to accumulate a given future sum C. The higher the rate of interest, the more time is required to accumulate a given future sum D. The interest rate does not affect how long it will take to accumulate a given future value Click to selet our answers