Question

The projected worth (in millions of dollars) of a large company is modeled by the equation w = 221(1.09) t. The variable t represents the number of years since 2000. What is the projected annual percent of growth, and what should the company be worth in 2008? A. 9%; $440.36 million B. 19%; $479.99 million C. 9%; $404.00 million D. 19%; $240.89 million

Answer 1

Answer is C 9%, $404.00

Answer 2

A. 9%; $440.36 million

Explanation:

Using A(1+r)t, we can subtract 1-1.09=.09*100=9%.

That means the projected annual growth is 9%

Now we can calculate the worth of the company by replacing t=8, 2008-2000=8

`w=221(1.09)^8\\=440.356=440.36 million`