Question

A new museum had 7500 vistiors this year.the number of visitors is expected to grow by 5% each year. How many vistiors will be in 5 years?

Answer 1

9572 visitors

Explanation:

This is exponential: y=ab
`y=ab^x`

a = initial value

b = growth rate

It will grow by 5% each year but also keep the same amount as last year (100% of last year's visitors)

a = 7500

b = 1.05

`y = 7500(1.05)^x`

Plug in x=5

9572.111719 = 9572 visitors