A quantity with an initial value of 6300 grows continuously at a rate of 60% per decade. What is the value of the quantity after 10 years, to the nearest hundredth?

A decade = 10 years

The problem says that the quantity "grows". This means the quantity is increasing. Therefore, we will be multiplying by a number over 1 because we are increasing the quantity past 100% which is = to 1. We are only increasing by 60% because in 10 years only one decade passes.

60% + 100% = 160% = 1.6

6300*1.6 = 10080.00

We added two zeroes after the decimal place because the problem was asking us to round to the nearest hundredth.

Answer: 10080.00

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