A little more than 43 million households own dogs in the US. The rate of increase in dog ownership is 1.5% each year. Approximately how many households are expected to own dogs in 10 years, if this trend continues?

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31-07-2014
Mathematics

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A little more than 43 million households own dogs in the US. The rate of increase in dog ownership is 1.5% each year. Approximately how many households are expected to own dogs in 10 years, if this trend continues?

Sagot :

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MattD MattD · Answer 1 · 2014-07-31T19:11:29-04:00

MattD MattD

31-07-2014

[tex]K_n=K(1+\frac{r}{100})^n[/tex]
Kn is the value searched
K --> capital
r --> interest rate
n --> number of compounding periods
[tex]K_n=43000000*(1+\frac{1,5}{100})^1^0[/tex] = 49903255.48

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A little more than 43 million households own dogs in the US. The rate of increase in dog ownership is 1.5% each year. Approximately how many households are expected to own dogs in 10 years, if this trend continues?

Sagot :

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