Suppose an investment of $6600 doubles in value every 8 years. How much is the investment worth after 40 years
Answer:
It will worth $ 211200
Step-by-step explanation:
Since, the amount formula that doubles in every t years,
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Where, n is the total years,
Here, P = $ 6600,
n = 40 years,
t = 8
Hence, the amount after 40 years,
\(A=6600(2)^\frac{40}{8}\)
\(=6600(2)^5\)
\(=\$ 211200\)