Since 2005, the amount of money spent at restaurants in a certain country has increased at a rate of 8% each year, In 2005, abou t $360 billion was spent at
1 answer:
Answer:
This is an exponential growth problem.
The growth rate is 4% (0.04).
The time is 10 years (10 years from 2005 to 2015)
A = P(1+i)t
A = amount spent in 2015
P = amount spent in 2005
i = interest rate expressed as a decimal
t = # years
A = 500(1.04)10
A = 500(1.480244)
A = 740.122 ==> 740 billion
Step-by-step explanation:
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