Question

If I Had A Hammer Hardware has sales of $5000 in its first month. Suppose sales were to increase by 4% every month. In how many months after the first month would the sales reach $9000

Answer 1

After 14 months after the first month would the sales reach $9000

For given question,

A Hammer Hardware has sales of $5000 in its first month.

The sales were to increase by 4% every month.

We need to find the number of months after the first month would the sales reach $9000

Let the exponential function for sales is,

f(n)= a (1 + r)^{n}

where, n is the number of months

a is the sales of the first month

r is the rate of increment

So, a = $5000, r = 0.04, f(n) = $9000

Substitute values in above equation.

⇒ 9000 = 5000 × (1 + 0.04)^{n}

Solve above equation for n.

⇒ 1.8 = (1.04)^n

⇒ n = $log_{1.04}^{(1.8)}$

⇒ n = 14.9

⇒ n ≈ 15

Therefore, after 14 months after the first month would the sales reach $9000

Learn more about the exponential growth here:

brainly.com/question/11487261

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