Question

The inaugural attendance of an annual film festival is 20,000. The attendance y increases by 5% each year

1. about how many people will attend the festival in the fifth year?

Answer 1

24,241 people

Explanation:

To determine the attendance at the festival in the fifth year, we need to calculate the cumulative increase in attendance over five years.

1st year: 20,000

2nd year: 20,000 * 1.05 = 21,000 (5% increase from the first year)

3rd year: 21,000 * 1.05 = 22,050 (5% increase from the second year)

4th year: 22,050 * 1.05 = 23,127.50 (5% increase from the third year)

5th year: 23,127.50 * 1.05 = 24,241.38 (5% increase from the fourth year)

So, in the fifth year the festival will be attended by approximately 24,241 people.