Correct me ! my answer [61,028]
what I did 36500 *12 *5.6% =24,528 + 36,500 =(61,028)

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

Correct me ! my answer [61,028]
what I did >36500 *12 *5.6% =24,528 + 36,500 =(61,028)

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

ganeshie8 · Answer

you have used simple interest formula !

ganeshie8 · Answer

you need to use continuous growth formula A = Pe^(rt)

cwrw238 · Answer

its  36500 * ( 1.056)^12

ganeshie8 · Answer

**continuously

cwrw238 · Answer

hmm - the question is a bit ambiguous because it says continuously and also 5.6 percent per year.....

cwrw238 · Answer

if it is compounded each year by 5.6  percent than the answer is 70,188

ganeshie8 · Answer

hmm agree ppl coming to restaurant are not virus or something to grow continuously lol

nincompoop · Answer

intellectual exercise, you guys…

cwrw238 · Answer

if continuous the answer is 71,472

cwrw238 · Answer

lol

cwrw238 · Answer

i think thats correct answer