196k views
3 votes
A quantity with an initial value of 6300 grows continuously at a rate of 60% per decade. What is the value of the quantity after 10 years, to the nearest hundredth?

User ThommyB
by
6.4k points

1 Answer

2 votes
A decade= 10 years

The problem says that the quantity "grows". This means the quantity is increasing. Therefore, we will be multiplying by a number over 1 because we are increasing the quantity past 100% which is = to 1. We are only increasing by 60% because in 10 years only one decade passes.

60% +100%= 160%= 1.6

6300*1.6= 10080.00

We added two zeroes after the decimal place because the problem was asking us to round to the nearest hundredth.

Answer: 10080.00

Comment below with any further questions you have!
User Obed Amoasi
by
5.4k points