the table shows the value of a savings bond that doubles in value after 5 years. which statement describes…

the table shows the value of a savings bond that doubles in value after 5 years. which statement describes the bond? the bond has an original value of $57.70 and grows at a rate of 15%. the bond has an original value of $57.50 and grows at a rate of 85%. the bond had an original value of $50 and grows at a rate of 15%. the bond has an original value of $50 and grows at a rate of 85%.

the table shows the value of a savings bond that doubles in value after 5 years. which statement describes the bond? the bond has an original value of $57.70 and grows at a rate of 15%. the bond has an original value of $57.50 and grows at a rate of 85%. the bond had an original value of $50 and grows at a rate of 15%. the bond has an original value of $50 and grows at a rate of 85%.

Answer

Explanation:

Step1: Check the original value

Let the original value be (P) and the growth formula be (A = P(1 + r)^{t}). When (t = 1), if (P = 50) and (r=0.15), then (A=50\times(1 + 0.15)^{1}=50\times1.15 = 57.50)

Step2: Check the growth rate

For (t = 2), if (P = 50) and (r = 0.15), then (A=50\times(1 + 0.15)^{2}=50\times1.15^{2}=50\times1.3225 = 66.125\approx66.13)

For (t = 3), (A=50\times(1 + 0.15)^{3}=50\times1.15^{3}=50\times1.520875\approx76.04)

For (t = 4), (A=50\times(1 + 0.15)^{4}=50\times1.15^{4}=50\times1.74900625\approx87.45)

For (t = 5), (A=50\times(1 + 0.15)^{5}=50\times1.15^{5}=50\times2.0113571875\approx100.57)

Answer:

The bond had an original value of ($50) and grows at a rate of (15%)