\( P \approx 1200 \times 1.7623 = 2,114.76 \)
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- The price of a laptop rises by 12% annually due to technology inflation. If it costs $1,200 now, what will it cost in 5 years?
- Formula: \( P = 1200 \times (1 + 0.12)^5 \)
- \( (1.12)^5 \approx 1.7623 \)
- #### $2,114.76
- A company’s revenue follows \( R(t) = 5000(1.08)^t \) dollars, t years after launch. By what percent does revenue grow per year?
- Base of exponential: \( 1.08 \), which means 8% annual growth
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