Capita expenditure to grow annually

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A township expects its population of 5,000 to grow annually at the rate of 5 percent. The township currently spends $300 per inhabitant, but, as the results of inflation and wage increments, expects the per capita expenditure to grow annually by 7 percent. How much will the township's budget be after 10, 15, and 20 years?

Reference no: EM131060624

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