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Each year the annual global demand for figs increases by 6%. If the demand for figs was 2.1 tonnes in 1996, what will the demand be in 2002?

Each year the annual global demand for figs increases by 6%. If the demand for figs-example-1
User J  Calbreath
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1 Answer

21 votes
21 votes

We can use the exponential growth to find the demand in 2002, the formula is


D=A\left(1+r\right)^t

Where

A = initial value, here, we will consider it as 2.1 tonnes

r = rate in years, here it's 6%, in decimal 0.06

t = time after 1996, in years.

Therefore


\begin{gathered} D=2.1\left(1+0.06\right)^6 \\ \\ D=2.1\left(1.06\right)^6 \\ \\ D=2.1\cdot1.41852 \\ \\ D=2.98\text{ tonnes} \end{gathered}

Hence, in 2002 will be demanded 2.98 tonnes.

User Lucas Coelho
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