Question

A quantity with an initial value of 650 grows exponentially at a rate of 20% every week. What is the value of the quantity after 70 days, to the nearest hundredth?

Answer 1

The Answer is 4024.62

Answer 2

4024.62

Explanation:

the value in 70 days can be determined using his formula

FV = P (1 + r)^n

FV = Future value

P = Present value = 650

R = growth rate = 20%

N = number of weeks = 70 / 7 = 10 weeks

650 x (1.2)^10 = 4024.62