Question

In 1969 the antique automobile of America had 23,00 members. It grew an average of 5% per year through 1985. Assuming this continued what would the membership be in 2004?

Answer 1

A=p (1+r)^t

A membership be in 2004
P membership be in 1969. 2300
R rate 5/100= 0.05
T time 2004-1969

A=2,300×(1+0.05)^(2,004−1,969)
A=12,686.8 round your answer
A=12687 in 2004

Hope it helps:-)