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19 November, 08:48

Annual sales for a fast food restaurant are $650,000 and are increasing at a rate of 4% per year. How much is the annual sales for 5 years?

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  1. 19 November, 09:02
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    Use the equation y=a (1+r) ^t

    So in this case: 650,000 (1+0.04) ^5

    Giving you ...

    $790,824.83
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