The yearly attendance at a local restaurant is 36,500 and grows continuously at a rate of 5.6% each year. What is the approximate attendance at the restaurant in 12 years?

38,597

61,028

70,188

71,472

Question

The yearly attendance at a local restaurant is 36,500 and grows continuously at a rate of 5.6% each year. What is the approximate attendance at the restaurant in 12 years?

 38,597

 61,028

 70,188

 71,472

anonymous · Answer

70,188 :)

anonymous · Answer

i got 61,028...but i may have did it wrong im not sure

anonymous · Answer

Well, its 36,500*1.056 for the first year, then that new number times 1.056, so if you do this 12 times should give you the answer, there is also an equation with a power n that you could plug 12 into, but I am forgetting it off the top of my head :P

anonymous · Answer

how did you get 1056?

anonymous · Answer

Not 1056 :P 1.056, Since they say 5.6% that would be 1.056 higher then the previous value, or you could do 0.056 times your number 36,500 then add that to pervious value, but 1.056 takes into account.

One second let me find that equation for you, itll make life easier in the future :P

anonymous · Answer

kay(:

anonymous · Answer

It has to be 70188 I checked it lol

anonymous · Answer

okay then im positive i did something wrong if every got 70188 lol

anonymous · Answer

Yes it is 61,028

anonymous · Answer

oh..

anonymous · Answer

I guess you do 36,500 x 0.056 which gives you 2,044, then you multiply that by 12, giving you 24,528, and finally you add that to the total and the final answer is 61,028

anonymous · Answer

Hmm, so there is an equation A=Ao(1+r)^t
Ao is your starting value, r is %, and t is time
So plug in your numbers:

A=36500(1+0.056)^12

anonymous · Answer

Here is a reference to also help walk you through it http://hotmath.com/tutor/?pid=genericalg1_9_6_RelationsandFunctions_11_825>_index=genericalg1:9:6:5