The money would be multiplied by a factor of 16 after 28 years
How to determine the factor?
The rate is given as:
Rate = Double every 7 years
There are 4 7 years in 28 years.
So, the factor would be:
Factor = Rate^4
This gives
Factor = 2^4
Evaluate
Factor = 16
Hence, the money would be multiplied by a factor of 16 after 28 years
Read more about exponential factors at
https://brainly.com/question/11464095
#SPJ1
