To determine how much an investment of \$8,200 is worth after 28 years, given that it doubles in value every 7 years, we start by calculating how many 7-year periods are there in 28 years.
\[ 28 \text{ years} \div 7 \text{ years/period} = 4 \text{ periods} \]
The investment doubles every 7 years, so after 4 periods, the investment will have doubled 4 times. We can determine the value of the investment using the following method:
1. Initial value = \$8,200
2. After the first 7 years: \( \$8,200 \times 2 = \$16,400 \)
3. After the second 7 years (14 years total): \( \$16,400 \times 2 = \$32,800 \)
4. After the third 7 years (21 years total): \( \$32,800 \times 2 = \$65,600 \)
5. After the fourth 7 years (28 years total): \( \$65,600 \times 2 = \$131,200 \)
So, the investment is worth:
\[ \boxed{131,200} \] after 28 years.
11.
Suppose an investment of $8,200 doubles in value every 7 years. How much is the investment worth after 28 years?
$65,600
$114,800
$459,200
$131,200
1 answer