Question

2000 restaurants will grow about 3% every year, what is the equation that represents it. Y = restaurants and t = years

Answer 1

Y= PV*(1 + g)^t

Explanation:

Giving the following information:

Number of Restaurants (PV)= 2,000

Growth rate (g)= 3%

To calculate the number of restaurants after t years, we need to use the following formula:

Y= PV*(1 + g)^t

For example, for 10 years:

Y= 2,000*(1.03^10)

Y= 2,688