if an amount of money is invested at an annual interest rate of 6%,it doubles every 12 years.if alejandra invests $500, how llong will it take her investment to exceed $2000 (assuming she doesn't contribute any additional funds)?
if an amount of money is invested at an annual interest rate of 6%,it doubles every 12 years.if alejandra invests $500, how llong will it take her investment to exceed $2000 (assuming she doesn't contribute any additional funds)?
WEll it doubles every 12 years so (assuming the initial statement is correct)
start $500
beginning of 12th year $1000
beginnnig of 24th year $2000
So 24 years.