r dealer sold 100 cars in his first year and plans to increase his sales by 10 percent each year for the next 5 years. How many will he have sold at the end of his fifth year? (1 point)
He sold 100 cars in his first year. To find out how many cars he will have sold at the end of the fifth year, we need to calculate the sales for each year based on a 10% increase.
First year: 100 cars
Second year: 100 + 10% of 100 = 100 + 10 = 110 cars
Third year: 110 + 10% of 110 = 110 + 11 = 121 cars
Fourth year: 121 + 10% of 121 = 121 + 12.1 = 133.1 cars
Fifth year: 133.1 + 10% of 133.1 = 133.1 + 13.31 = 146.41 cars
Therefore, at the end of the fifth year, he will have sold approximately 146 cars.