Respuesta :
Answer:
10 months
Step-by-step explanation:
each month he makes $200.00 so it would take 10 because 10x 200 = 2000
so 10 months
Mr. Stewart's initial investment will be doubled in 10 months.
It can be calculated from equation (1) as given below
[tex]\rm The \; amount\; is \; given \; by \\A = P(1+r\times t) ....(1) \\Where \\A = Final \; Amount\\P = Initial \; principle\; amount \\r = Yearly \; rate \\t = time \; in \; years[/tex]
Mr. Stewart put $2000 in an investment account
Given that the investment amount increases 10% every month.
Let the final amount be "A "
[tex]\rm The \; amount\; is \; given \; by \\A = P(1+r\times t) ....(1) \\Where \\A = Final \; Amount\\P = Initial \; principle\; amount \\r = Yearly \; rate \\t = time \; in \; years[/tex]
According to the given data
A = $4000 (Given that the amount is double of initial investment)
P = $2000
Given rate is 10% every month
so r = 120% = 1.2
t is to be determined
On putting the given data in equation (1) we get
[tex]\rm 4000 = 2000 (1 + 1.2\times t ) \\2 = 1 + 1.2 \times t \\1 /1.2 = t \\10 /12 = t \\So\; t = 10/12 \; years[/tex]
Since 1 year = 12 month
[tex]\rm 1 \; month = 1/12 \; years\\[/tex]
So 10/12 years is equivalent to 10 months
So we can conclude that
Mr. Stewart's initial investment will be doubled in 10 months as given by equation
[tex]\rm The \; amount\; is \; given \; by \\A = P(1+r\times t) ....(1) \\Where \\A = Final \; Amount\\P = Initial \; principle\; amount \\r = Yearly \; rate \\t = time \; in \; years[/tex]
For more information please refer to the link given below
https://brainly.com/question/11566183
