a factory increases the production of cars annually by 8% if presently it manufactures 211000 cars per year, how many cars will it manufacture per year after 4 yrs.
I believe the answer is 287,063 but I need to know the formula
im assuming no one is answering me now because they thought I was yelling.
That isn't the reason. Apparently a math tutor hasn't been seen your question yet. Please be patient. You may get an answer tonight.
To find the number of cars the factory will manufacture per year after 4 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the final amount (number of cars after 4 years)
P = the initial amount (number of cars presently)
r = the annual percent increase in production (in decimal form)
n = the number of times the increase occurs per year (in most cases, it's 1 for annual increases)
t = the number of years
In this case:
P = 211,000 cars
r = 8% (or 0.08 as a decimal)
n = 1 (annual increase)
t = 4 years
Plugging these values into the formula:
A = 211,000(1 + 0.08/1)^(1*4)
A = 211,000(1.08)^4
A ≈ 211,000(1.3605)
A ≈ 287,063
Therefore, the factory will manufacture approximately 287,063 cars per year after 4 years.