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Retail revenues internet shopping

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Retail revenue from shopping on the Internet is currently growing at a rate of 26% per year. In 2003, a total of $39 billion in revenue was collected through the Internet retail sales. Answer the following questions using y equals 39(1.26)^t where y is Internet revenues in billions of dollars and t is the number years after 2003. Round answers to the nearest 10th of $1 billion. Please state your approach, the formula, and steps for solving (NOT THE ANSWER HERE).

A. According to the model, what level of retail revenues Internet shopping was expected in 2005?

Reference no: EM131769603

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