Question

Suppose an investment of $6,200 doubles in value every 13 years. How much is the investment worth after 78 years?

Answer 1

$396,800. This is because 78 years divided by 13 years is 6. So the money would double 6 times... giving you $396,800.

Answer 2

Answer: $396,800

Explanation:

Given: The initial investment = $6200

The constant ratio = 2

Time takes to double the amount (Time period )= 13

The number of time periods in 78 years =
`(78)/(13)=6`

The exponential growth equation is given by :-

`y=Ab^x`, whre A is the initial amount , b is the constant ratio and x is the number of time periods .

Now, the investment worth after 78 years will be given by :-

`y=6200(2)^6\\\Rightarrow\ y=6200(64)\\\Rightarrow\ y=396,800`

Hence, The investment worth after 78 years is $396,800.