hhs19
contestada

annual sales for a company are $149,000 and are increasing at a rate of 6% per year; 7 years

Respuesta :

$149 compounded on a Yearly basis over the course of 7 years at a 6% interest rate would be worth:

$224
irspow
This is exponential growth of the form:

F=Ir^t, F=final amount, I=initial amount, r=rate, t=time...in this case:

F=149000(1.06^t) so

F(7)=149000(1.06^7)

F(7)=$224040.91 (to the nearest cent)

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