Answer to Question #161391 in Algebra for Destiny

Question #161391

Annual sales for a company are $149,999 and are increasing at a rate of 6% per year. Use an exponentialfunction to find the annual sales after 7 years.

Expert's answer

Solution:

"r=6"%"=0.06"

"Y=149,999"$ "*(1+0.06)^7"

"Y=225,543"$

Answer:

Annual sales after 7 years will be $225,543.

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