Reference no: EM132500094
In a growing midwestern town, the number of eating establishments at the end of each of the last five years are as follows:
Year 1 = 143;Year 2 = 149;Year 3 = 162;Year 4 = 171;Year 5 = 178
Question 1: From the end of year 1 to the end of year 5, the number of eating establishments grew at a rate of ____________ compounded annually.
A) 4.2%
B) 4.7%
C) 5.6%
D) 8.7%
E) 9.3%
Question 2: If, over the next five years, eating establishments are expected to grow at the same rate as they did during year 5, forecast the number of eating establishments at the end of year 10.
A) 217
B) 219
C) 221
D) 223
E) 225
Question 3: If the number of eating establishments are expected to grow in year 6 at the same rate as the percentage increase in year 5, how many new eating establishments will be added in year 6?
A) 5
B) 6
C) 7
D) 8
E) 9
Question 4: If the town's population was 62,000 at the end of year 5, and the population grew at the same annual rate as the number of eating establishments between the end of year 1 and the end of year 5, what was the town's population at the end of year 1?
A) 49,809
B) 51,435
C) 53,230
D) 54,330
E) 56,730
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