Some types of investments--such as Certificates of Deposit--earn interest based on a percentage rate. People often estimate the doubling time of investments to predict how much money the investment will be worth in the future. An investment that earns 4% interest will double in value about every 18 years. Use this information to complete the missing values in the table below for $2,500 invested at 4% interest.
Year | Value of Investment |
---|---|
2000 | $2,500 |
$5,000 | |
$10,000 | |
2054 | $ |
Which of the following is the best estimate for the amount of time it would take the investment in the last question to reach a hundred thousand dollars?