An investment of $2000 in a bank account doubles every five years.

The function that models the growth of this investment is [tex]f(x) = 2000 \cdot 2^x[/tex], where \(x\) is the number of doubling periods.

How many years correspond to one doubling period?

x=1 after the first 5 years; x=2 after the another 5 years (or better said after the first 10 years in the bank); x=3 after another 5 years ( or better said after the first 15 years in the bank) and so on...
x is the number of 5 years intervals which have passed up to a moment in time :)

Answered by daniela88 | 2024-06-10

4150 ;

Answered by littlepaw146 | 2024-06-12

In this investment scenario, one doubling period corresponds to 5 years. This means that the investment will double in value every five years. For example, $2000 grows to $4000 after 5 years, and then to $8000 after 10 years.
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Answered by daniela88 | 2024-12-20