Question

A new museum had 7500 visitors this year. the museum curators expect the number of visitors to grow by 5% each year. the function y=7500(1.05)x models the predicted number of visitors each year after x years. how many visitors will there be in the third year?

Answer 1

The equation shown above for the prediction of the number of visitors in each year is absolutely right. However, it can be written as,
y = 7500(1.05)^x
to be able to avoid confusions.
Substituting 3 to the x in the equation will give us,
y = 7500(1.05)^3
= 8682.188
≈8682
Therefore, there will be approximately 8682 visitors in the third year.