baleskacardona88 baleskacardona88

26-04-2022
Mathematics

contestada

Lucy is 15 years old and has $1000, she invests in a CD paying 8% interest. How many times will her money double by the time she is 60?

Respuesta :

jsimpson11000 jsimpson11000

27-04-2022

Answer:

5

Step-by-step explanation:

(1 + i ) ^45 i = interest in decimal 45 = years

(1.08)^45 = ~~ 32

when she is 65 it will be worth 32 000

so it doubles 5 times (1000 2000 4000 8000 16000 32000)

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