Question

MEMBERSHIPS The Work-Out Gym sold 550 memberships in 2001. Since then the number of memberships sold has increased 3% annually. a. Write an equation for the number of memberships sold at Work-Out Gym

Answer 1

To write an equation for the number of memberships sold at the Work-Out Gym, start with the initial number of memberships sold in 2001 and use the formula: Number of memberships sold = Initial number of memberships + (Annual increase rate * Initial number of memberships).

Step-by-step explanation:

To write an equation for the number of memberships sold at the Work-Out Gym, we start with the initial number of memberships sold in 2001, which is 550. We know that the number of memberships sold has increased 3% annually. To account for this increase, we can use the formula:

Number of memberships sold = Initial number of memberships + (Annual increase rate * Initial number of memberships)

Substituting the given values:

Number of memberships sold = 550 + (0.03 * 550) = 550 + 16.5 = 566.5