Riddle 14

[lkelly2477]

An investment doubles Jacks money every 5 years. If Jack leaves all the money invested, in forty years he'll have $384,000. How long will it take to have $340,000 if he starts with twice as much money? How much money did he start with?

[morse]

originally the investor had 1500. Then the information is to vague to give you an absolute answer on the second part. First, does the income gradually go into the account or is it a lump sum after the 5 years are up. if it gradually goes into the account there will never be exactly 340,000 but it will have over that in 35 years. Next if we assume that it does gradually go into the account i will also need to know if the 35th year is a leap year. This would change my numbers based on the gradual monetary increase per day. If these assumptions are to be made it will take 34 years 41 days 19 hours 40 minutes and 48 seconds. Only the hundredths place in decimals was accounted for.

[morse]

i meant if it doesn't gradually go into the account