Question

Please helppp!!!

Jeremy deposited x dollars in his investment account on January 1, 2001. The amount of money in the account doubled each year until Jeremy had 480 dollars in his investment account on January 1, 2005. What is the value of x?

Answer 1

98 dollars every year

Hope this helped

Answer 2

Answer: The value of x is 30 dollars.

Explanation:

Since we have given that

Number of dollars in his investment account on Jan 1, 2001 = x

Number of dollars in his investment account on Jan 1, 2005 = 480

Number of years = 4

According to question, the amount of money in the account doubled each year.

so, it becomes,

`480=P(2^4)\\\\480=P* 16\\\\P=(480)/(16)\\\\P=30`

Hence, the value of x is 30 dollars.