Question

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

Answer 1

Alright, here we go ;)

10000=5000*1.07^10.2

40000=5000*1.07^x

Systems of equations and solve.

The answer is D.