A person invested $200 in an account growing at a rate allowing the money to double every 13 years. How much money would be in the account after 15 years to the nearest dollar

$431

Step-by-step explanation:

Given parameters:

Principal  = $200

Time given for the amount to double  = 13yrs

Unknown:

Amount in the account after 15yrs = ?

Solution:

To solve this problem, we need to find the interest rate on this investment.

    I =

I = interest

P = principal

R = Rate

T = time

 Now,

  if the amount should double,

     Interest earned  = $200

So;

         200  =  

         200  = 26 x R

           R = 7.7%

Now, in 15yrs, this amount will be;

 let us find the interest;

           I  =  

           I = $231

The amount in the account will be:

  Amount  = Principal + Interest

  Amount = $200 + $231  = $431

you cant answer this dummy

step-by-step explanation:

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!