Question

The projected worth (in millions of dollars) of a large company is modeled by the equation w = 241(1.03) t. the variable t represents the number of years since 2000. what is the projected annual percent of growth, and what should the company be worth in 2012?

Answer 1

343.608 million to nearest thousand.

Explanation:

Projected annual percent of growth = 3% ( from the values 1.03 in the equation)

Worth is 2012 ( 12 years after 2000) is:

241(1.03)^12

= 343.608 million