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25-02-2019
Mathematics

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Since 2006, the amount of money spent at restaurants in a certain country has increased at a rate of 5% each year. In 2006, about $580 billion was spent at restaurants. If the trend continues, about how much will be spent at restaurants in 2014? About $____ billion will be spent at restaurants in 2014 if the trend continues.

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26-02-2019

Answer:

$857 billion

Step-by-step explanation:

Since 2006, the amount of money spent at restaurants in a certain country has increased at a rate of 5% each year. In 2006, about $580 billion was spent at restaurants.

2014-2006=8 so 2014 is 8 years from 2006

If the trend continues, the amount of money spent at restaurant in 2014 will be (1.05)^8 times that of the amount in 2006:

$580*(1.05)^8 = $856.9

About $857 billion will be spent at restaurants in 2014 if the trend continues.

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