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annual sales for a company are $149,999 and are increasing at a rate of 6% per year. write an exponential growth function to model this situation. then, find the annual sales after 7 years.

Answer :

MHANIFAGO

Answer:

  • S(t) = 149999(1.06)^t
  • $225543

Step-by-step explanation:

  • Initial value is $149999
  • Increase rate is 6% per year = 1.06 times

The model of the growth is:

  • S(t) = 149999(1.06)^t, where S- amount of annual sales, t- time in years, 1.06- growth rate per year

Annual sales after 7 years:

  • S(7) = 149999(1.06)^7 = $225543

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