3
Answer: ASet 7: Exponential Functions
Explanation
An investment doubles every 9 years. If you invest $3,000, what will it be worth after 27 years?
A.✓ Correct
$24,000
B.
$12,000
C.
$6,000
D.
$9,000
Detailed Explanation
Choice A is correct. Choice A is the correct answer. Apply the doubling pattern. 1. Doubling periods: periods. 2. After each doubling: Multiply by 2. 3. After 3 doublings: . 4. Formula: . Strategic Tip: 3 doublings = multiply by . Choice B is incorrect because this is after 2 doublings (18 years). Choice C is incorrect because this is after only 1 doubling (9 years). Choice D is incorrect because this is the wrong calculation.
Key Steps:
•
The correct answer is $24,000
Why others are wrong:
B: Choice B is incorrect and may result from a calculation error.
C: Choice C is incorrect and may result from a calculation error.
D: Choice D is incorrect and may result from a calculation error.
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