Question

investment historically have doubled every 9 years if you start with $2000 investment how much money would you have after 45 years

Answer 1

First you would divide 45 by 9 to see how many times it will double which gives you 5. Then, you would multiply 2000 by 2^5 (or just 2000x2x2x2x2x2) to get $64000

Answer 2

Answer: $64000

Explanation:

The exponential equation for growth in function with growth factor 'b'in time 't' is given by :-

`y=Ab^x` , where A is the initial value.

Given : The initial value :
`A=\$2000`

Growth rate =
`b=2\text{ every 9 years}`

Time periods in 45 years :
`t=(45)/(9)=5`

Then , the exponential equation for growth for t=5 is given by :-

`y=2000(2)^(5)=64000`

Hence, the money you would have after 45 years = $64000