Elaine has invested $575 in a stock that is expected to double every 8 years. What will be the value of the stock in 16 years?

A.) $4,600.00

B.) $37,683,200.00

C.) $147,200.00

D.) $2,300.00

Question

Mathematics

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28 September, 16:29

Elaine has invested $575 in a stock that is expected to double every 8 years. What will be the value of the stock in 16 years?

A.) $4,600.00

B.) $37,683,200.00

C.) $147,200.00

D.) $2,300.00

+5

Answers (1)

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Spookey · Answer 1

The correct option is D.

The initial value of the stock is $575 and it doubles every 8 years, this means that, in the next eight year the value of the stock will be 2 * 575 = $1150.

This amount too will double in the next eight year and the value will become 2 * 1150 = $2,300.

Therefore, in 16 years time the share will be worth $2,300.00.

Elaine has invested $575 in a stock that is expected to double every 8 years. What will be the value of the stock in 16 years?A.) $4,600.00B.) $37,683,200.00C.) $147,200.00D.) $2,300.00

Elaine has invested $575 in a stock that is expected to double every 8 years. What will be the value of the stock in 16 years?

A.) $4,600.00

B.) $37,683,200.00

C.) $147,200.00

D.) $2,300.00