A car 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 cars will he have sold at the end of his fifth year?(1 point) 610
920
725
1245
The car dealer sold 100 cars in his first year.
To calculate how many cars he will sell in each subsequent year, we will use the formula:
Number of cars sold in a given year = Number of cars sold in the previous year * 1.10
Year 1: 100 cars
Year 2: 100 * 1.10 = 110 cars
Year 3: 110 * 1.10 = 121 cars
Year 4: 121 * 1.10 = 133.1, which we'll round down to 133 cars
Year 5: 133 * 1.10 = 146.3, which we'll round down to 146 cars
Therefore, after 5 years, the car dealer will have sold 100 + 110 + 121 + 133 + 146 = 610 cars.
So, the correct answer is: 610