Mr Collins invested some money that will double in value every 12 years. If he invested $5,000 on the day of his daughter’s birth, how much will the investment be worth on his daughter’s 60th birthday?
A $160,000. B $300,000. C $80,000. D $320,000
First calculate how many times that amount will be doubled, to do that: 60/12=5 times Now let's DOUBLE the amount five times: 5000×2=10000 10000×2=20000 20000×2=40000 40000×2=80000 80000×2=160000
