The national income of a company in 1964 was 30 million dollars. It grows at 4% per annum. Using base unit of 10 million dollars per annum, compute the national income of the company for four years; 1964, 1965,1966 and 1984.

Answer 1

1964 ----> 30
1965 ----> 30(1.04) = ...
1966 ----≥ 30(1.04)^2 = ...
1984 ----> 30(1.04)^20 = ...

I will let you do whatever with these results.

Answer 2

Thanks Sir(mathhelper). Pls I will love that you help me solve further because that's the aspect I'm getting confused

Answer 3

I assume that you did the calculations, e.g for
1984 it would be appr. 65.73 million

"Using base unit of 10 million dollars per annum.."
I interpret that to mean: round to the nearest 10 million,

so our 65.73 million would round to 70 million

do the same for the other two.

Answer 4

Thanks! Thanks!!