Answer to Question #204287 in Economics for hasti

Question

The number of new domestic wind turbine

generators installed each year in a particular country has been forecast to

increase at a constant multiplicative rate of 15% per annum for the foreseeable

future. This year (t = 0) 100 new generators were installed. What is the total number of new generators

including this year's, that would have been installed within the next ten years

(that is up to and including year t = 9)? Use a discrete model for the growth

process.

Answer 1

$$100\times(1+0.15)^9=352$$