Question

2.556 billion growing at a rate of 1.68% how long until it reaches 2.78 billion

Answer 1

Answer:

Number of year = 5.042 years (Approx)

Step-by-step explanation:

Given:

Amount = 2.556 billion

Future amount = 2.78 billion

Growth rate = 1.68% = 0.0168

Find:

Number of year = ?

Computation:

$Future\ amount =Amount(1+g)^n\\\\2.78 = 2.556(1+0.0168)^n\\\\2.78 = 2.556(1.0168)^n\\\\n =5.042$

Number of year = 5.042 years (Approx)