Suppose an investment of $2,300 doubles in value every decade. The function f(x) = 2300 * 2^x gives the value of the investment after x decades. How much is the investment worth after 2 decades?

Question

$9,200

Answer 1

To find the value of the investment after 2 decades, we can plug in x = 2 into the function f(x) = 2300 * 2^x:

f(2) = 2300 * 2^2
f(2) = 2300 * 4
f(2) = 9200

Therefore, the investment is worth $9,200 after 2 decades.