Answer: Sylvia will double her money in 9 years,
Step-by-step explanation:
Given:
- Sylvia invested $500 with an interest rate of 8%.
- Manuel invested $600 with an interest rate of 7.25%.
Let's calculate the time it takes for each person to double their money using the Rule of 72 formula:
1. Sylvia:
Interest rate = 8%
Time to double money =
= 9 years
2. Manuel:
Interest rate = 7.25%
Time to double money =
≈ 9.93 years
Based on the Rule of 72 calculations, Sylvia will double her money in 9 years, while Manuel will double his money in approximately 9.93 years. Therefore, Sylvia will double her money first.