Question

investments historically have doubled every 9 years. If you start will a $2,000 investment, how much money would you have after 45 years?

Answer 1

$64,000

Explanation:

Friday, 45 / 9 = 5

So the investment will double 5 times

First time

2,000 (starting investment) × 2 = 4000

Second time

4000 × 2 = 8000

Third time

8000 × 2 = 16000

Fourth time

16000 × 2 = 32000

Fifth and final time

32000 × 2 = 64000

$64,000