The number of trucks registered in a city increases by 10% each year. Initially, there were 100 trucks registered. There were 110 trucks registered at the end of Year 1.

What is the number of trucks registered in the city at the end of Year 8?

how do i solve this? im kinda confused


Round the answer to the nearest whole number.

t = 100 (1 + .10)^8

Just like compound interest :)

800

To solve this problem, we can use the formula for compound interest:

A = P * (1 + r)^n

Where:
A is the final amount
P is the initial amount
r is the interest rate (expressed as a decimal)
n is the number of time periods

In this case, the initial amount P is 100 (the number of trucks initially registered), the interest rate r is 10% (0.1 as a decimal), and we want to find the final amount A at the end of Year 8 (n = 8).

So, plugging the values into the formula, we have:

A = 100 * (1 + 0.1)^8

Now, we can calculate this using a calculator or by simplifying the equation manually.

A = 100 * (1.10)^8
A = 100 * (1.10 * 1.10 * 1.10 * 1.10 * 1.10 * 1.10 * 1.10 * 1.10)
A ≈ 214.35

Rounding this to the nearest whole number gives us:

A ≈ 214

Therefore, at the end of Year 8, there would be approximately 214 trucks registered in the city.