Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

Since 2005 , the amount of money spent at restaurants in a certain country has decreased at a rate of 7 % each year . In 2005 , about $ 1450 billion was spent at restaurants . If the trend continues , about how much will be spent at restaurants in 2020 ?

Sagot :

sqdancefan

Answer:

  $488.2 billion

Step-by-step explanation:

A year-on-year decrease of 7% means the multiplier is (1 -7%) = 0.93. After 15 years (from 2005 to 2020), the spending will have been multiplied by that value 15 times, or 0.93^15.

The spending at restaurants in 2020 is modeled to be ...

  $1450(0.93^15) ≈ $488.2 . . . billion

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.