SOLUTION: In 1999, 18.2 million households had a dvd player. If this populaion grows at 25% annually, how many households will have a dvd player in 2004 (5 years later)? A= P(1+r)^t I g

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Question 78038: In 1999, 18.2 million households had a dvd player. If this populaion grows at 25% annually, how many households will have a dvd player in 2004 (5 years later)? A= P(1+r)^t
I got: 55.54 million. Is this correct?
Thanks~
Answer by stanbon(48558) About Me  (Show Source):
You can put this solution on YOUR website!
In 1999, 18.2 million households had a dvd player. If this populaion grows at 25% annually, how many households will have a dvd player in 2004 (5 years later)? A= P(1+r)^t
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A(5) = 18.2(1+0.25)^5
A(5)= 18.2(3.05175...)
A(5)= 55.54199... million
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Cheers,
Stan H.