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# If money is invested at r percent interest, compounded annually, the

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Math Expert
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Math Expert
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Re: If money is invested at r percent interest, compounded annually, the [#permalink]
1
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Given:

2p = p(1+ r/100)^70/r..... i

also, it tells us that Chris spends 1000 at the rate of 4% compound interest rate annually, and we have to find out the value at the end of 35 yrs

P=? @ 1000(1+4/100)^35 ...ii

If we compare both the equations,
P will be doubled in 70/r
here r=4
therefore, P will be doubled in T= 70/4
since P = 1000;
P= 2000 in T= 70/4 or 35/2

and P= 4000 in T = 70/2 or 35

Hence option A
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Re: If money is invested at r percent interest, compounded annually, the [#permalink]
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Re: If money is invested at r percent interest, compounded annually, the [#permalink]
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