Suppose an investment of 6,200 doubles in value every 13 years. How much is the investment worth after 78 years?
To find the worth of the investment after 78 years, we need to determine how many times the investment doubles in value over that period.
The investment doubles in value every 13 years, so in 78 years, it would have doubled in value 78/13 = 6 times.
To calculate the worth of the investment after 78 years, we multiply the initial investment of $6,200 by 2 raised to the power of the number of times it doubles, which is 6.
$6,200 * 2^6 = $6,200 * 64 = $396,800
Therefore, the investment would be worth $396,800 after 78 years.