A company has plans to increase its sales at the rate of 8% per year. If the sales of the company in 2001 were $5 million, how much sales can you expect the company to make in the year 2003?

Question

anonymous · Answer

2003-2001=2 years
A=5(1+0.08)^2=6.29856 
round: 6.3 Million

anonymous · Answer

thank you for the medal

anonymous · Answer

your welcome

anonymous · Answer

but i got a different answer i got 5830000

anonymous · Answer

Here is the equation. Hope it helps$$5 \times 10^{6} \times 1.08^{n}$$ where n is the number of years the business has been running. Bonus help : in 2001, n = 0. There you go :)

anonymous · Answer

I cacul yes ,you r correct  sorry
5.8Million