Since 2006, the amount of money spent at restaurants in a certain country has increased at a rate of 4% each year. In 2006, about $500 billion was spent at restaurants. If the trend continues, about how much will be spent at restaurants in 2016?

For this case we have the following exponential function:
y = A (b) ^ x
Where,
A: initial amount
b: growth rate
x: time in years
Substituting the values we have:
y = 500 (1.04) ^ 10
y = 740.1221425
Rounding:
y = $ 740 billion
Answer:
It will be spent at restaurants $ 740 billion in 2016

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4804120635 4804120635 · Answer 2 · 2020-05-14T21:50:30+02:00

4804120635 4804120635

14-05-2020

Answer:

750 billion

Step-by-step explanation:

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Since 2006​, the amount of money spent at restaurants in a certain country has increased at a rate of 4​% each year. In 2006​, about ​$500 billion was spent at restaurants. If the trend​ continues, about how much will be spent at restaurants in 2016​?

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Since 2006, the amount of money spent at restaurants in a certain country has increased at a rate of 4% each year. In 2006, about $500 billion was spent at restaurants. If the trend continues, about how much will be spent at restaurants in 2016?