Question

1. Annual sales for a fast food restaurant are $650,000 and are increasing at a rate of 4% per year

Use an exponential function to find the annual sales after 7 years.

Answer 1

The value after 7 years is $ 855355.65

Solution:

Given that, Annual sales for a fast food restaurant are 650000 and are increasing at a rate of 4% per year

To find: exponential function to find the annual sales after 7 years

The exponential growth function is given as:

Where,

"a" is the initial amount

"y" is the future value

"r" is the rate of interest in decimal

"t" is the number of years

Here in this given question,

a = 650000

t = 7 years

Substituting the values in given formula,

Thus the value after 7 years is $ 855355.65

Explanation: