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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