Question

David bought a chain of fast food restaurants that operated 200 stores in 2009. The number of restaurants has grown at a rate of 12% annually

Answer 1

Complete Question

David bought a chain of fast food restaurants that operated 200 stores in 2009. The number of restaurants has grown at a rate of 12% annually.how many stores does the restaurant operate in 2020?

Answer:

`N_(11) \approx 749`

Explanation:

From the question we are told that:

Number of Fast Food Restaurants
`P=200`

Number of years
`t=11yrs`

Rate
`r=12%`

Generally the equation for the Number of restaurant in operation in 2020 is mathematically given by

`N(t)=Pe^(rt)`

Therefore

For t=11

`N_(11)=200*e^(0.12*11)`

`N_(11)=748.7`

`N_(11) \approx 749`