Question

If money in a bank doubles every 7 years, then what factor is the money multiplied by over a 28 year period?

Answer 1

The money would be multiplied by a factor of 16 after 28 years

How to determine the factor?

The rate is given as:

Rate = Double every 7 years

There are 4 7 years in 28 years.

So, the factor would be:

Factor = Rate^4

This gives

Factor = 2^4

Evaluate

Factor = 16

Hence, the money would be multiplied by a factor of 16 after 28 years

Read more about exponential factors at

brainly.com/question/11464095

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