An investment grows according to the exponential equation y = 15,000 · 1.07x, where x is the number of years invested. Which of the following statements is true?
A. The investment will continue to grow at a rate of 7% per year compounded quarterly.
B. The investment will increase by $1050 per year.
C. The investment will more than double within 12 years. D.The investment will triple within 15 years
The option c is the answer because 2p=p (1.07)^x 2=1.07^x Solve for x X=log(2)÷log(1.07) x=10 years the amount will be doubled after 10 years But your option says the investment will (more) than double with (12) years So it's correct
