Question

Cyberhost Corporation's sales were $2,000,000 last year. If

sales grow at 7% per year, how large will they be 10 years
later?

Answer 1

Step-by-step explanation:

Using the formula for exponential growth, we can calculate the sales 10 years later:

Sales in 10 years = $2,000,000 × (1 + 0.07)^10

Sales in 10 years = $2,000,000 × 1.967151

Sales in 10 years = $3,934,302

Therefore, the sales 10 years later will be $3,934,302.