The total number of TVs produced each year can be calculated using the formula:
TVs produced = initial production * (1 + growth rate)^number of years
When calculating this for 10 years, we get:
TVs produced = 500 * (1 + 0.08)^10 = 500 * (1.08)^10 ≈ 1191.58
Rounded to the nearest whole number, the total number of TVs produced at the end of the tenth year is 6,856.
Therefore, the correct answer is - 6,856.
A TV manufacturer produces 500 TVs in its first year and plans to increase production by 8 percent each year for the next 10 years. How many total TVs will have been produced at the end of the tenth year? (1 point)
- 8,949
- 6,856
- 7,243
- 5,687
1 answer
1 answer