Question

A business associate has an idea that he claims will double you money that you invest in his business in 7 years. Assuming that he is correct, if you initially invest $29,000 in his business, write the equation that would predict the amount A in your account at time t in years.

Answer 1

Step-by-step explanation:

You invest $29,000 in a friend's business, he claims that this money that you invested will double in 7 years.

A = 29,000 (Starting balance)

C = 2A

Y = One year

C = 7Y

2(29,000) = 7Y

58000 = 7Y

-29,000 (because you initially invested this)

29,000 = 7Y

------------------

7

~4142.86 = Y

Every year that you invest in his business, he claims you will earn around $4142.

Hope that helps.