Enterprise

The value of annual production enterprise is 7.1 million USD. The average annual growth rate is 1.5%.

What will be value of production at the end of the fifth year?

Result

x =  7.649 mil

Solution:

q=1+1.5/100=1.015 x=7.1q5=7.11.0155=7.649  mil q = 1+1.5/100 = 1.015 \ \\ x = 7.1 \cdot q^5 = 7.1 \cdot 1.015^5 = 7.649 \ \text{ mil }



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