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# Mathrurh

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Since 2004​, the amount of money spent at restaurants in a certain country has increased at a rate of 7​% each year. In 2004​, about ​$290 billion was spent at restaurants. If the trend​ continues, about how much will be spent at restaurants in 2018​? Jun 13, 2021 ### 1+0 Answers #1 +524 +2 In 2004 =$290 billion

In 2005 $$=(1+{7\over 100})*290$$

$$=310.3$$

In 2006 $$={107\over 100}×310.3$$

$$=332.02$$

In 2007 $$={107\over 100}×332.021$$

$$=355.26$$

... and so on

As you might have observed the above series forms a GP with

1st term a1 = 290 and common ratio r = 10.7

In order to find amount of money in 2018 (14 yrs later), we've to find the 15th term i.e. a15

⇒ $${a}_{15}= a × r^{14}$$

$$=290 × (10.7)^{14}$$

$$= 74777490355836152.54$$ billion       (approx.)

~Hope you got it :)

Jun 13, 2021