Question

Mr Collins invested some money that will double in value every 12 years. If he invested $5,000 on the day of his daughter’s birth, how much will the investment be worth on his daughter’s 60th birthday?

A $160,000. B $300,000. C $80,000. D $320,000

Answer 1

Answer:

160000

Explanation:

First calculate how many times that amount will be doubled, to do that:
60/12=5 times
Now let's DOUBLE the amount five times:
5000×2=10000
10000×2=20000
20000×2=40000
40000×2=80000
80000×2=160000

Hope it helps!