Question

Suppose an investment of $3,500 doubles every 2 years. How much is itworth in 20 years?What is the equation of the function?After 20 years the investment is worth $?

Answer 1

$3,584,000

Step-by-step explanation:

The initial value of the investment = $3500

Since the investment doubles every two years, the function showing the value of the investment after t years is given as:

`f(t)=3500(2)^{(t)/(2)}_{}`

After 20 years, i.e. When t=20 years

`\begin{gathered} f(20)=3500*2^{(20)/(2)} \\ =3500*2^(10) \\ =\$3,584,000 \end{gathered}`

After 20 years the investment is worth $3,584,000.