document.write( "Question 244452: If an investment of $8000 increases by 15 percent at the end of each year, what is the fewest number of years until it doubles in value?
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Algebra.Com's Answer #178787 by Edwin McCravy(20056)![]() ![]() You can put this solution on YOUR website! If an investment of $8000 increases by 15 percent at the end of each year, what is the fewest number of years until it doubles in value? \n" ); document.write( " \r\n" ); document.write( "If it increases by 15% it becomes 115% of what it was before. To take 115% of \r\n" ); document.write( "something is to multiply it by 1.15. So we want to know how many times\r\n" ); document.write( "we must multiply $8000 by 1.15 until it just becomes $16000, or first exceeds\r\n" ); document.write( "it. Let that number be n. Then to get the approximate nu,ber of years\r\n" ); document.write( "\r\n" ); document.write( "\n" ); document.write( " |