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Animist designers has generated sales of $625,000 for the current year. if it can grow the sales at a rate of 12 percent every year, how long will it take to triple the sales? (round off to the nearest year.)

Respuesta :

YellowGold
I did a manual computation to find the number of years it would take to triple the current sales.

625,000 x 3 = 1,875,000

Year                                            Sales 
1                                              625,000.00
2       625,000   x   1.12   =      700,000.00
3       700,000   x   1.12   =      784,000.00
4       784,000   x   1.12   =      878,080.00
5       878,080   x   1.12   =      983,449.60
6       983,450   x   1.12   =   1,101,463.55
7    1,101,464   x   1.12   =   1,233,639.18
8    1,233,639   x   1.12   =   1,381,675.88
9    1,381,676   x   1.12   =   1,547,476.99
10  1,547,477   x   1.12   =   1,733,174.22
11  1,733,174   x   1.12   =   1,941,155.13

It would take 10 years for the sales to triple.Â