Functions Modeling Change: A Preparation for Calculus, 5th Edition

Published by Wiley
ISBN 10: 1118583191
ISBN 13: 978-1-11858-319-7

Chapter 13 - Sequences and Series - Strengthen Your Understanding - Page 561: 25



Work Step by Step

This is false for multiple reasons. For starters, the interest rate is doubled but the amount of money put into the account is not, so doubling the interest rate is not simply going to double the amount at the end of the period. Secondly, since the interest is compounding, the $\underline{interest}$ earned will actually over double.
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