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Karen invested $2,000 in a special savings account.
The balance of this special savings account will double
every 5 years. Assuming that Karen makes no other
deposits and no withdrawals, what will be the balance
of Karen's investment at the end of 40 years?
A. $ 80,000
B. $ 256,000
C. $ 400,000
D. $ 512,000
E. $1,024,000

Respuesta :

hello8016

Answer:

D. $512,000

Step-by-step explanation:

Well if the balance doubles every 5 years, then dividing 40 by 5 gives us the number of times the money will double, which is 8. We can then turn this into the equation [tex]2000(2^{8})[/tex]. [tex]2^8[/tex] can be simplified to 256. Multiply that by 2000 and we get our answer, 512000. Hope this helps!

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