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A certain investment doubled in value every 9 years. If Said
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27 Jul 2018, 07:08
27 Jul 2018, 07:08
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84% (01:00) correct
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A certain investment doubled in value every 9 years. If Saidah had $25,125 in the investment when she was 27 years old, what was the value of the investment when she retired at 63 years old?
(A) $50,250
(B) $150,750
(C) $201,000
(D) $251,250
(E) $402,000
(A) $50,250
(B) $150,750
(C) $201,000
(D) $251,250
(E) $402,000
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Re: A certain investment doubled in value every 9 years. If Said
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10 Aug 2018, 18:09
10 Aug 2018, 18:09
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Expert Reply
sandy wrote:
A certain investment doubled in value every 9 years. If Saidah had $25,125 in the investment when she was 27 years old, what was the value of the investment when she retired at 63 years old?
(A) $50,250
(B) $150,750
(C) $201,000
(D) $251,250
(E) $402,000
(A) $50,250
(B) $150,750
(C) $201,000
(D) $251,250
(E) $402,000
We are given that Saidah’s investment doubled in value every 9 years, so let’s keep track how much she will have every 9 years, beginning with age 27:
Age 27: $25,125
Age 36: $50,250
Age 45: $100,500
Age 54: $201,000
Age 63: $402,000
Answer: E
Re: A certain investment doubled in value every 9 years. If Said
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12 Aug 2018, 05:21
12 Aug 2018, 05:21
Expert Reply
Explanation
The value of the investment doubled every 9 years. Calculate the amount of money at the end of each 9-year period:
At age 63, the investor had $402,000.
The value of the investment doubled every 9 years. Calculate the amount of money at the end of each 9-year period:
| Age | Value |
| 27 | $25,125 |
| 27 + 9 = 36 | $50,250 |
| 36 + 9 = 45 | $100,500 |
| 45 + 9 = 54 | $201,000 |
| 54 + 9 = 63 | $402,000 |
At age 63, the investor had $402,000.
