a person invested $2,200 in an account growing at a rate allowing the money to double every 8 years. how…

Explanation:

Step1: Define doubling growth formula

The formula for exponential growth with doubling time is $A = P \times 2^{\frac{t}{d}}$, where $P$ is principal, $t$ is time, $d$ is doubling time.

Step2: Plug in given values

$P = 2200$, $t = 4$, $d = 8$. Substitute into formula: $A = 2200 \times 2^{\frac{4}{8}}$

Step3: Simplify the exponent

Simplify $\frac{4}{8} = \frac{1}{2}$, so $A = 2200 \times 2^{\frac{1}{2}} = 2200 \times \sqrt{2}$

Step4: Calculate final value

$\sqrt{2} \approx 1.4142$, so $A \approx 2200 \times 1.4142 = 3111.24$

Step5: Round to nearest dollar

Round 3111.24 to the nearest whole number.

Answer:

$$3111$