Question: A deposit of P0 into a bank account has a doubling time of 50 years. No other deposits or withdrawals are made.
(a) How much money is in the bank account after 50 years? 100 years? 150 years? (Your answer will involve P0.)
(b) How many times does the amount of money double in t years? Use this to write a formula for P, the amount of money in the account after t years.