SOLUTION: An advertisement for a mutual fund claims that people who invested in the fund 5 years ago have doubled their money. If the fund’s future performance is similar to its past perfo

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Question 1097925: An advertisement for a mutual fund claims that people who invested in the fund 5 years ago have doubled their money. If the fund’s future performance is similar to its past performance, how much would a $2000 investment be worth in 40 years?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
If the fund doubles every 5 years, then 40/5=8, so the fund will be worth 2^8 times 2000, or $512,000
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