The number of members in a labor union is 240, and the number increases by 5% each year. Find the number of members after 4 years.

Question

asked Mar 13, 2022 230k views

1 Answer

Savepopulation · Answer 1 · 2022-03-18T00:20:28+0000

Answer: 292

Explanation:

Given

There are 240 members in a labor union

The number increases by 5% each year

After 1 year it is

$\Rightarrow 240+5\%* 240\\\Rightarrow 240(1+0.05)$

After 2 years

$\Rightarrow 240(1+0.05)+5\%* 240(1+0.05)\\\Rightarrow 240(1+0.05)(1+0.05)=240(1+0.05)^2$

Similarly, after 4 years

$\Rightarrow 240(1+0.05)^4\\\Rightarrow 291.72\approx 292$