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

 

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