Question

The first time Account # 1: was 1 year

account number # 2: was 10 years

Now just double it. Need help asap, thank you!!

Answer 1

The time it takes for each investment account to double again depends on the rate of growth for each account.

For investment account 1, the balance doubles every year, so to find the time it takes to double again, we would need to solve for the time when the balance becomes $400 (double the starting balance of $200).

For investment account 2, the balance increases by $100 each year, so to find the time it takes to double again, we would need to solve for the time when the balance becomes $2,000 (double the starting balance of $1,000).