If you have $10, and your money doubles every year, how much money will you have in 10 years? $5120 $10240 $50 $100
Mathematics · College · Tue Nov 03 2020
Answered on
Given the statement:
If you have $10, and your money doubles every year, how much money will you have in 10 years?
Solution:
This can be done manually in order to logically determine the value after 10 years.
1st year: (10)(2) = 20
2nd year: (20)(2) = 40
3rd year: (40)(2) = 80
4th year: (80)(2) = 160
5th year: (160)(2) = 320
6th year: (320)(2) = 640
7th year: (640)(2) = 1280
8th year: (1280)(2) =2560
9th year: (2560)(2) =5120
10th year: (5120)(2) = 10240
Final answer:
$10240