Question

and 2008 Classic Car Wash estimated its business would increase by 20% each year. if they washed 19,300 in 2008, how many cars can they expect to wash in 2010

Answer 1

well, from 2008 to 2010 is just 2 years, so let's say the initial amount is the 19300 from 2008, how many will it be in 2010?


`\bf \qquad \textit{Amount for Exponential Growth}\\\\ A=I(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ I=\textit{initial amount}\to &19300\\ r=rate\to 20\%\to (20)/(100)\to &0.20\\ t=\textit{elapsed time}\to &2\\ \end{cases} \\\\\\ A=19300(1+0.2)^2`