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Annual sales for a fast food restaurant are 650000 and are increasing at a rate of 4% per year. Use an exponential function to find the annual sales after 5 years. What is the equation
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Annual sales for a fast food restaurant are 650000 and are increasing at a rate of 4% per year. Use an exponential function to find the annual sales after 5 years. What is the equation

User Dmzkrsk
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1 Answer

16 votes
16 votes
A=P(1+r)^2
Principal as 650000
Rate = 4% or 0.04%
Time = 5 years
We are adding because as it is exponentially growth

650000(1+0.04)^5
= 790824.39
User Djvg
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