# pre calc

The number of customers that visit a local small business is 29,600 and has been continuously declining at a rate of 2.9% each year. What is the approximate number of customers that visit the business in 10 years

1. 👍 1
2. 👎 0
3. 👁 399
1. ∑{t=0,9} 29600×(1-0.029)^t

= 29600 × ∑{t=0,9} (0.971)^t

= 29600×(1-(0.971)^10)/(1-0.971)

= 260212.7803191162604751275702776...

≈ 260212 (rounded down to whole person)

By ∑{i=0,n} a^i = (1-a^(n+1))/(1-a)

1. 👍 0
2. 👎 0

## Similar Questions

1. ### Math/Finance

Jose started a small business and wants to determine when the business will become profitable. His operating costs can be expressed as y=\$10,000+\$3,000x, where x is the number of months he stays in business. His sales revenues can

2. ### Economics

Two grocery stores are located in the downtown area of a small city. The first offers excellent prices for buying large bulk quantities. The second does not have bulk offers, but offers lower prices on single items. Use the

3. ### Statistics

A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and

4. ### Social Studies

How does scarcity affect customers? A Limited wants and needs limit customers to small purchases. B Limited time prevents customers from making decisions. C Limited numbers of producers force customers to be loyal. D Limited money

1. ### Social studies

1. Which of these is an example of capital resource? A. Workers B. Iron ore C. Entrepreneurs D. Computers 2. How does scarcity affect customers? A. Limited money forces consumers to make choices. B. Limited time prevents customers

2. ### Entrepreneurship I

1. Describe 3 trends that you've noticed, and explain how each one might generate a small business opportunity. (3-6 sentences. 3.0 points) 2. Make a list of at least 5 business ideas that interest you. (2.0 points) 3. Explain

3. ### queue

Amanda Fall is starting up a new house painting business, Fall Colors. She has been advertising in the local newspaper for several months. Based on inquiries and informal surveys of the local housing market, she anticipates that

4. ### statistics

Forty-four percent of customers who visit a department store make a purchase. The probability, rounded to four decimal places, that in a random sample of 9 customers who will visit this department store, exactly 6 will make a

1. ### Math Help Please? c: Thank you :3

At your summer job with a research company, you must get a random sample of people from your town to answer a question about spending habits. Which of the following methods is most likely to be random? A) You survey customers at

2. ### math

The number of customers that visit a local small business is 51,200 and has been continuously declining at a rate of 3.8% each year. What is the approximate number of customers that visit the business in 14 years

3. ### math

You run a small furniture business. You sign a deal with a customer to deliver up to 700 chairs, the exact number to be determined by the customer later. The price will be \$150 per chair up to 600 chairs, and above 600 the price

4. ### Statistic

The number of customers who enter a supermarket each hour is normally distributed with a mean of 600 and a standard deviation of 200. The supermarket is open 16 hours per day. what is the probability that the total number of