Question

At the beginning of the year the number of books owned by the library was 10,000. Since then, it has growth by 1% each month

What would be the number of books in the library after 5 years

Answer 1

10(1 + 0.01/12) 60

Step-by-step explanation:

We want to find the expression that represents the number of books after 5 years.

To do this, we have to apply the general formula for the amount of an exponential increase based on a 12 month time period:

where P = initial amount

r = rate

x = amount of time (number of years)

From the question:

P = 10,000

r = 1% = 0.01

t = 5 years



Therefore, the expression that represents the number of books (in thousands) after 5 years is:

That is the answer.