Question

A town manager reports that revenue for a given year is $563,878. The budget director predicts the revenue will increase by 7% per year. How much revenue will the town have available in 6 years? (round to the nearest cent)

Answer 1

below

Explanation:

the yearly multiplier

= 1.07

After 6 years revenue wii, b 563878 * 1.07^6

= $846,228.83.