Question Bank / Math / Ratios, Rates, and Proportions
Ratios, rates, proportional relationships, and units SAT question
Math · Problem-Solving and Data Analysis · Hard · Answer it here, explanation included.
Jeremy deposited x dollars in his investment account on January 1, 2001. The amount of money in the account doubled each year until Jeremy had 480 dollars in his investment account on January 1, 2005. What is the value of x ?
Enter a number or fraction (like 3/17 or 0.176). Press Enter to check.
ExplanationShow
The correct answer is 30. The situation can be represented by the equation 
, where the 2 represents the fact that the amount of money in the account doubled each year and the 4 represents the fact that there are 4 years between January 1, 2001, and January 1, 2005. Simplifying gives 
. Therefore, 
.
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