Question

The projected worth (in millions of dollars) of a large company is modeled by the equation w = 236(1.06) t. The variable t represents the number of years since 2000. What is the projected annual percent of growth, and what should the company be worth in 2011?

A. 6%; $422.64 million
B. 16%; $250.16 million
C. 6%; $448.00 million
D. 16%; $474.88 million

Answer 1

c

Explanation:

The base is 1.06, so the annual rate of growth is 6%.

When it is 2011, t=11, so

`w=236(1.06)^(11) \approx 448`