Question 158896: if magic marketing continues to have aproximatly the same rate of growth for the four years to 1997 what will be the projected sales in 1997 to the nearest (500,000) dollars
magic marketing (1989)-$323,000
(1993)-$904,400
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! if magic marketing continues to have aproximatly the same rate of growth for the four years to 1997 what will be the projected sales in 1997 to the nearest (500,000) dollars
---------------------------
magic marketing (1989)-$323,000
(1993)-$904,400
----------------
Form: y = ab^x
Using: (0,323000) where 0 is the number of years after 1989
323000 = ab^0
a = 323,000
-----------------
Using: (4,904,400) where 4 is the number of years after 1989
904,400 = 323000b^4
b^4 = 904,400/323000
b^4 = 2.8
b = 1.2936
----------------
EQUATION:
y = (323,000)(1.2936)^x
-------------------------
what will be the projected sales in 1997 to the nearest (500,000) dollars
x = 1997-1989 = 8
y = (323,000)(1.2936)^8 = $2,532,320
=============================================
Cheers,
Stan H.
|
|
|
