If money is invested at r percent interest,compounded annually,the amount of investment will double in approximately 70/r years. If Pat's parents invested $ 5000 in a long term bond that pays 8 percent interest,compounded annually, what will be the approximate total amount of investment 18 years later,when Pat is ready for college?
A)$20000
B)$15000
C)$12000
D)$10000
E)$9000
A)$20000
B)$15000
C)$12000
D)$10000
E)$9000
