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itsshyraa
18.02.2020 •
Mathematics
Last year, the total revenue for Home Style, a national restaurant chain, increased 5.25% over the previous year. If this trend were to continue, which expression could the company’s chief financial officer use to approximate their monthly percent increase in revenue? [Let m represent months.]
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Ответ:
Monthly percent increase in revenue = 0.4273%.
Step-by-step explanation:
Let m = number of months in time period.
We have that: Annual increase based on annual rate = Annual increase based on monthly rate * 12.
To find the increase in the original amount, we use the formula:
Therefore,
Ao(1 + ia) = Ao(1 + im)m,
where Ao= original amount, ia = annual interest rate, im = monthly interest rate, na = number of annual time periods, nm = number of monthly time periods.
Divide both sides by Ao
Taking the mth root of both sides
Thus, the monthly revenue increase of Home Style is 0.4273%.
Ответ:
Step-by-step explanation: