Question

Elaine has invested $575 in a stock that is expected to double every 8 years. What will be the value of the stock in 16 years?

A.) $4,600.00

B.) $37,683,200.00

C.) $147,200.00

D.) $2,300.00

Answer 1

The correct option is D.

Explanation:

Answer 2

The correct option is D.
The initial value of the stock is $575 and it doubles every 8 years, this means that, in the next eight year the value of the stock will be 2 * 575 = $1150.
This amount too will double in the next eight year and the value will become 2* 1150 = $2,300.
Therefore, in 16 years time the share will be worth $2,300.00.