Answer:
Explanation:
The general equation is y = a*b^x
The specific equation is
100000 = 78918 * 1.06^x
y is the goal (100000 people)
a is the beginning number of people at the time the prize is offered.
a = 78918
b = the base increase per year. (1.06 in this case)
x is the number of years. Just for fun, let's solve for x even though you are not asked for it.
100000 = 78918 * 1.06^x Divide both sides by 78918
100000/78918 = 1.06^x
1.26713 = 1.06^x Take the log of both sides.
log(1.26713) = x * log(1.06) Divide both sides by log(1.06)
log(1.26713)/log(1.06) = x
x = 4.06 years.