You start with $4 in your investment. Your money doubles

rotlokja

rotlokja

Answered question

2022-03-08

You start with $4 in your investment. Your money doubles every 6 years.How much money will your investment be worth in 54 years?
a. How many doublings will happen in 54 years? ___b. Your investment will be worth ___ in 54 years,

Answer & Explanation

RI5N6mv3

RI5N6mv3

Beginner2022-03-09Added 3 answers

Step 1
It is given that $4 is the initial investment and themoney doubles within 6 years. That is, investmentbecomes $8 in 6 years.
(a)
It is given that money doubles in 6 years.
So the number of doublings in 54 years is asfollows:
total number of years6=546
=9
Thus the number of doublings will happen in 54years is 9.
obduciramwz6

obduciramwz6

Beginner2022-03-10Added 1 answers

Step 2
(b)
There are 9 doublings happening in 54 years.
That is, the amount will be the product of $4 and 9
4×9=$36
The investment will be worth $36 in 54 years

Do you have a similar question?

Recalculate according to your conditions!

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?