An investment grows according to the exponential equation y = 15,000 · 1.07x, where x is the number of years invested. Which of
the following statements is true? A. The investment will continue to grow at a rate of 7% per year compounded quarterly.
B. The investment will increase by $1050 per year.
C. The investment will more than double within 12 years. D.The investment will triple within 15 years
The option c is the answer because 2p=p (1.07)^x 2=1.07^x Solve for x X=log(2)÷log(1.07) x=10 years the amount will be doubled after 10 years But your option says the investment will (more) than double with (12) years So it's correct
He was wrong because, although three is greater than five, the value of the three is in the ten thousands place, while the five is in the thousands place. Therefore, the correct answer would be that 36594 is greater than 5980.
