Question

The amount of money spent at West Outlet Mall continues to increase. The total T(x) in millions of dollars can be estimated by the function T(x) = 12(1.12)x, where x is the number of years after it opened in 1995. Estimate the amount of sales in 2005.

1. $57.72 million
2.$37.27 million
3.$19.23 million
4.$21.12 million

Answer 1

2 is the answer because you have to multiply the x times the [t]

Answer 2

US$37.27 million

Explanation:

Hi there, In this function which should be better rewritten as

`T(x)=12(1.12)^(x)`

We can see that it projects sales growth per year of 12%.

So let's plug in the values for this function estimating the sales 10 years later growing 12% per year, i.e. in 2005.

`T(10)=12(1.12)^(10)\\ T(10)=37.270185\\`

T(10)≈US$37.27 million

So that's the estimation for the sales in 2005.