Question

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.

Answer 1

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.