Question

Annual sales for a company are $149,999 and are increasing at a rate of 6% per year. Use an exponential functior to find the annual sales after 7 years

Answer 1

The annual sales after 7 years is $197,388.45

Step-by-step explanation:

Given that the annual sales for a company is $149,999

The increase rate is 6%

The annual sales after 7 years is given as:

`\begin{gathered} y=A(1+r)^n \\ A\text{ is the amount} \\ r\text{ is the rate of increase} \\ n\text{ is the number of years} \end{gathered}`

`\begin{gathered} y=149999(1.04)^7 \\ =197,388.45 \end{gathered}`