Question

Suppose an investment of $6600 doubles in value every 8 years. How much is the investment worth after 40 years

Answer 1

40 years is 5 doublings.

6,600 x 2^5 = $211,200.

Answer 2

It will worth $ 211200

Explanation:

Since, the amount formula that doubles in every t years,

`A=P(2)^(n)/(t)`

Where, n is the total years,

Here, P = $ 6600,

n = 40 years,

t = 8

Hence, the amount after 40 years,

`A=6600(2)^(40)/(8)`

`=6600(2)^5`

`=\$ 211200`