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| Math Central | Quandaries & Queries |
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Question from Sandra, a student: Your finance text book sold 56,500 copies in its first year. The publishing company expects the sales to grow at a rate of 20.0 percent for the next three years, and by 8.0 percent in the fourth year. Calculate the total number of copies that the publisher expects to sell in year 3 and 4. |
Hi Sandra,
I can help get you started. In the first year there were 56,500 copies of the book sold and in the second year there was a 20% increase in sales so in the second year the number sold was 56,500 plus 20% of 56,500 or
\[56,500 + 0.20 \times 56,500 = 1.20 \times 56,550.\]
I hope this helps,
Penny
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