HELP WITH MATH PROBLEM!
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HELP WITH MATH PROBLEM!

[From: ] [author: ] [Date: 12-04-24] [Hit: ]
To solve this you must first take the original amount of customers/year (so 48,300). Then you take 6.8%, which is the percentage of increase per year. So that means after 1 year,......
The yearly attendance at a local restaurant is 48,300 and grows continuously at a rate of 6.8% each year. What is the approximate attendance at the restaurant in 18 years?

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Seems like it's a problem of exponential growth.

To solve this you must first take the original amount of customers/year (so 48,300). Then you take 6.8%, which is the percentage of increase per year. So that means after 1 year, you would have 6.8% more customers than the year before, you have 1.068 times the original amount of customers.

So for one year it would be 48,300 * 1.068

But you want 18 years, so you simply write 48,300 * 1.068^18 (=157,844.58)

The basic formula for these types of taskes is N(t) = N(0) * a^t with a=e^k

Hope I could help,
~ Nick

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x = 48,300 * (1.068)^18

x = 48,300 * 3.268003767

x = 157,845

=======================================…

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=48,300*(1.068)^18
=157,844
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