annual sales for a company are $149,999 and are increasing at a rate of 6% per year. write an exponential growth function to mod
el this situation. then, find the annual sales after 7 years.
1 answer:
Answer:
- S(t) = 149999(1.06)^t
- $225543
Step-by-step explanation:
- Initial value is $149999
- Increase rate is 6% per year = 1.06 times
<u>The model of the growth is:</u>
- S(t) = 149999(1.06)^t, where S- amount of annual sales, t- time in years, 1.06- growth rate per year
<u>Annual sales after 7 years:</u>
- S(7) = 149999(1.06)^7 = $225543
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