The amount of an investment will double in approximately 70/ p years, where p is the percent interest, compounded annually. If Thelma invests $ 40,000 in a long-term CD that pays 5 percent interest, compounded annually, what will be the approximate total value of the investment when Thelma is ready to retire 28 years later?
Pick one.
A) $ 160,000	B) $ 320,000	C) $ 360,000	D) $ 450,000	E) $ 540,000
The amount of an investment will double in approximately 70/ p years, where p is the percent interest, compounded annually. If Thelma invests $ 40,000 in a long-term CD that pays 5 percent interest, compounded annually, what will be the approximate total value of the investment when Thelma is ready to retire 42 years later?   The investment gets doubled in 70/p years. Therefore, the investment gets doubled in   70/5= 
<gadget id="calculator">  70/5</gadget>
<output>14</output>
every 14 years. After 28 years, the investment will get doubled 28/14= 
<gadget id="calculator">28/14</gadget>
<output>2</output>
2 times.   So the amount invested will get doubled thrice.   So, 40000 *2= 80000   80000*2= 
<gadget id="calculator">80000*2</gadget>
<output>160_000</output>
160000   Hence, the answer is $ 160,000.
<result>A</result>
The amount of an investment will double in approximately 70/ p years, where p is the percent interest, compounded annually. If Thelma invests $ 40,000 in a long-term CD that pays 5 percent interest, compounded annually, what will be the approximate total value of the investment when Thelma is ready to retire 28 years later?