Question

The revenue for a company this year was $750,000. Each year the revenue

increases at a rate of 7.5% per year. Write a function that represents the
company's revenue as a function of time in years.

Answer 1

750,000 x 1.07 ^ Y = X

Explanation:

Given that the revenue for a company this year was $ 750,000 and each year the revenue increases at a rate of 7.5% per year, to write a function that represents the company's revenue as a function of time in years the following guidelines should be considered:

Y = Number of years

X = Final result

750,000 x 1.07 ^ Y = X

Thus, for example, at 3 years, the result would be the following:

750,000 x 1.07 ^ 3 = 918,782.25