Last one for tonight. This really confused me. Please help.
1 answer:
You might be interested in
Answer:
$39,851.25
Step-by-step explanation:
If the sales increase at a rate of 9% per year, this means it will be 109% of the previous year's value since 100% + 9% = 109%
109% in decimal form = 109/100 = 1.09
Therefore, the exponential function is:
, where
is the number of years
So when ,
After 8 years, annual sales = $39,851.25