Answer:
$19.3 million
Explanation:
The demand in 5 years can be found by using the given formula for exponential growth with the given beginning value, growth rate, and time.
E = B(1 +r)^t
You are given B = 12, r = 0.10, t = 5, so the ending value is ...
E = 12(1 +0.10)^5 = 12(1.61051) = 19.32612
Demand for electrical services in 5 years will be about $19.3 million per year.