Home / Assignment Help / Investment historically have doubled every nine years if you start with a $2,000 investment how much money would you have after 54 years. first complete the equation

Investment historically have doubled every nine years if you start with a $2,000 investment how much money would you have after 54 years. first complete the equation

Answer:

$128,000

Step-by-step explanation:

Investment historically have doubled every nine years.

If you start with a $2,000 investment.

After 54 years it would be doubled = 54/9 = 6 times

2000 × 2 × 2 × 2 × 2 × 2 × 2 = $128,000

We can see :

$2,000 after 9 years = $4,000

$4,000 after 18 years = $8,000

$8,000 after 27 years = $16,000

$16,000 after 36 years = $32,000

$32,000 after 45 years = $64,000

$64,000 after 54 years = $128,000

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