Friday, April 24, 2015

I need help with the following story problem:the tax revenue that a small city recieves increases by 3.5% per year. In 1990, the city recieved...

I view this problem differently.  It seems to me that each year the 3.5% increase will be applied to whatever the revenue was in the previous year.


So, 1990 = $250,000 revenue


1991 = 250,000 x 1.035 = 258,750


1992 = 258,750 x 1.035 = 267,806


1993 = 267,806 x 1.035 = 277,179


1994 = 277,179 x 1.035 = 286,880


1995 = 286,880 x 1.035 = 296,920


1996 = 296,920 x 1.035 = 307,312


1997 = 307,312 x 1.035 = 318,068


1998 = 318,068 x 1.035 = 329,200


etc.


You can figure out the rest!! :-D

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