Question

Joe starts a gym.In the first year,300 people join.If the membership grows at a annual rate of 4% how many members wil there be after 5 years

Answer 1

number = 300(1.04)^5

= .....

Answer 2

Yay, Reiny!

Answer 3

so i think its 312

Answer 4

How did you get that ??

300(1.04)^5
= 300(1.2166529...)
= $364.9959..
= $365.00 to the nearest cent

Answer 5

[AI-generated answer — Explain Bot]

To find out how many members there will be after 5 years, we need to calculate the membership growth each year and add it to the previous year's total. Here's how to do it:

1. Start with the initial number of members: 300.

2. Calculate the membership growth for each year:
Year 1: 4% growth on 300 members = 300 * 0.04 = 12 members
Year 2: 4% growth on (300 + 12) members from the previous year
= (300 + 12) * 0.04 = 12.48 members
Year 3: 4% growth on (300 + 12 + 12.48) members from the previous year
= (300 + 12 + 12.48) * 0.04 = 12.80 members
Year 4: 4% growth on (300 + 12 + 12.48 + 12.80) members from the previous year
= (300 + 12 + 12.48 + 12.80) * 0.04 = 13.12 members
Year 5: 4% growth on (300 + 12 + 12.48 + 12.80 + 13.12) members from the previous year
= (300 + 12 + 12.48 + 12.80 + 13.12) * 0.04 = 13.44 members

3. Add up the growth in each year to the initial number of members:
Total members after 5 years = 300 + 12 + 12.48 + 12.80 + 13.12 + 13.44

Calculating this:
Total members after 5 years = 364.84 members

Therefore, after 5 years, there will be approximately 364 members in Joe's gym.