Answer
A factor of 1.65
Work Step by Step
We find that the investment must increase by:
$$ \frac{(1.05)^{20} -1 }{1} = \frac{2.65-1}{1} =1.65$$
Functions Modeling Change: A Preparation for Calculus, 5th Edition
by Connally, Eric; Hughes-Hallett, Deborah; Gleason, Andrew M.; Cheifetz, Phil C.
Published by
Wiley
ISBN 10:
1118583191
ISBN 13:
978-1-11858-319-7
Chapter 4 - Exponential Functions - 4.4 Applications to Compound Interest - Exercises and Problems for Section 4.4 - Exercises and Problems - Page 167: 4
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