The projected worth (in millions of dollars) of a large company is modeled by the equation y equals 271 left parenthesis 1.07 right parenthesis to the power of x the variable x represents the number of years since 1997. what is the projected annual percent of growth, and what should the company be worth be in 2008?

For this case we have the following equation:

y = 271 * (1.07) ^ x

The percentage of annual growth is given by:

(1.07-1) * (100) = 7%

For the year 2008 we have:

y = 271 * (1.07) ^ 11

y = 570.41 million of dollars

Answer:

The projected annual percent of growth is:

7%

the company should be worth 570.41 million of dollars in 2008