Question

Question 4

2 pts

The first year of a charity walk event had an attendance of 500. The attendance

y increases by 5% each year.

How many people will attend in the 10th year?

A) 525 People

B) 814 People

C) 250 People

Answer 1

b

Explanation:

Number of people in the 10th year can be determined using this formula

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future number of people at the charity

P = number of people at the charity in the first year

R = rate of increase

N = number of years

500 x (1.05)^10 = 814 people