Question

6.
Suppose an investment of $8,200 doubles in value every 7 years. How much is the investment worth after 28 years?

A. $459,200
B. $114,800
C. $131,200
D. $65,600

Answer 1

d. 65,600

so you multiple 8,200 by 2 and you get 16,400, so now u need to find out how many times the amount doubles in 28 years so u divide 28 by 7 and get 4 times, so then u multiple 16,400 4 times which is 65600,