Question

The revenue of Apple® went from $54.5 billion in 2013 to $74.6 billion in 2015. Find an exponential function to model the revenue as a function of years since 2013. What is the continuous percent growth rate, per year, of revenue?
Round your answer to three decimal places.

Answer 1

74.6 - 54.5 = 20.1

20.1/2 = 10.05

54.5/74.6 = 0.731 (rounded)

Apple makes 10.05 billion more every year. The percent growth rate is about 73.1% a year.