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David bought a chain of fast food restaurants that operated 200 stores in 2009. The number of restaurants has grown at a rate of 12% annually

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Complete Question

David bought a chain of fast food restaurants that operated 200 stores in 2009. The number of restaurants has grown at a rate of 12% annually.how many stores does the restaurant operate in 2020?

Answer:

[tex]N_{11} \approx 749[/tex]

Step-by-step explanation:

From the question we are told that:

Number of Fast Food Restaurants [tex]P=200[/tex]

Number of years [tex]t=11yrs[/tex]

Rate [tex]r=12%[/tex]

Generally the equation for the Number of restaurant in operation in 2020 is mathematically given by

 [tex]N(t)=Pe^{rt}[/tex]

Therefore

For t=11

 [tex]N_{11}=200*e^{0.12*11}[/tex]

 [tex]N_{11}=748.7[/tex]

 [tex]N_{11} \approx 749[/tex]

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