question archive A bookstore sold 500000 books this year and hoping to increase the sales by 10% every year
A bookstore sold 500000 books this year and hoping to increase the sales by 10% every year
Subject:FinancePrice:2.86 Bought3
A bookstore sold 500000 books this year and hoping to increase the sales by 10% every year. What is expected sales in five years from now?
Question 8 options:
483153.00
644204.00
805255.00
966306.00
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
Expected sales=500000*(1.1)^5
=500000*1.61051
=805255
