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2 August, 01:48

The projected worth (in millions of dollars) of a large company is modeled by the equation y equals 271 left parenthesis 1.07 right parenthesis to the power of x the variable x represents the number of years since 1997. what is the projected annual percent of growth, and what should the company be worth be in 2008?

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  1. 2 August, 04:09
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    For this case we have the following equation:

    y = 271 * (1.07) ^ x

    The percentage of annual growth is given by:

    (1.07-1) * (100) = 7%

    For the year 2008 we have:

    y = 271 * (1.07) ^ 11

    y = 570.41 million of dollars

    Answer:

    The projected annual percent of growth is:

    7%

    the company should be worth 570.41 million of dollars in 2008
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