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Interest rate is 7% and doubling time is 10.2 years. you have invested $5,000.00. in how many years will your money $40.000.00? choose the best answer from the options below: a 40.8 years b 35.6 years
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Interest rate is 7% and doubling time is 10.2 years. you have invested $5,000.00. in how many years will your money $40.000.00? choose the best answer from the options below: a 40.8 years b 35.6 years c 30.2 years d 30.6 years

User Dan Largo
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1 Answer

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Alright, here we go ;)

10000=5000*1.07^10.2

40000=5000*1.07^x

Systems of equations and solve.

The answer is D.

User DomQ
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8.3k points
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