Question

A new social media site is increasing its

user base by approximately 6% per month.
If the site currently has 26,920 users,
what will the approximate user base be 8
months from now?

Answer 1

Answer: I think it will be 42,906 (i rounded my answer)

Explanation:

A(t)= P(1+r/n)^nt

P=26,920 (principle)

R= 0.06 (rate)

N=1 (compounded)

T=8 (time)

A(t)= 26,920(1+0.06/1)^1*8= 42,906.3901664= 42,906