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13 August, 23:41

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

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  1. 14 August, 01:12
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    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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