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marta [7]
3 years ago
8

1. Annual sales for a clothing store are $270,000 and

Mathematics
1 answer:
ivann1987 [24]3 years ago
8 0

Answer:

The value of the annual sales in 3 years is $330,762

Step-by-step explanation:

In this question, we are to calculate the value of the annual sales in three years for a clothing store which increases at a rate of 7% per year

To calculate this , we shall need to make use of an exponential function which is defined as follows;

V =I(1 + r)^t

where V is the future value at 3 years

r is the rate of increase which is 7% or simply 7/100 = 0.07

t is the number of years which is 3

Plugging these values into the equation, we have;

V = 270,000( 1+ 0.07)^3

V = 270,000(1.07)^3

V = 330,761.6 which is $330,762 to the nearest whole dollars

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