The money would be multiplied by a factor of 16 after 28 years
<h3>How to determine the factor?</h3>
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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