The town manager reports that revenue for a given year is $2.5 million. The budget director predicts that revenue will increase by 4% per year. If the directors prediction holds true, how much revenue will the town have available 10 years from the date of the town managers report?

Question

Mathematics

Marvin Michael

20 August, 07:07

The town manager reports that revenue for a given year is $2.5 million. The budget director predicts that revenue will increase by 4% per year. If the directors prediction holds true, how much revenue will the town have available 10 years from the date of the town managers report?

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Brian Sheppard · Answer 1

2.5 times 1.04 (the. 04 being the 4% increase) = 2.6 one year

2.6 (1.04) = 2.704

(1.04) = 2.81216

(1.04) = 2.9

(1.04) = 3.04

(1.04) = 3.16

(1.04) = 3.28

(1.04) = 3.42

(1.04) = 3.55

(1.04) = 3.7

(1.04) = 3.84 million after 10 years