Suppose an investment of $5,000 doubles every 12 years. How much is the investment worth after 36 years? After 48 years?
1 answer:
This can be done without exponential equations.
It doubles every 12 years so it has doubled in price
5,000 * 2 = 10,000
After 36 years the value has increased 8 times
5,000 * 8 = 40,000
After 48 years the value has increased 16 times
5,000 * 16 = 80,000
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Step-by-step
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and multiply it by 4
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