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A car repair center services 920 cars in 2012. The number of cars serviced increases quarterly at a rate of 12% per year after 2012. Create an exponential expression to model the number of cars serviced after t years. Then, match each part of the exponential expression to what it represents in the context of the situation.
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Step-by-step explanation:
Cars repair in service center in 2012 = 920
Rate of increase percentage quarterly = 12 % p.a ( 12 /4 = 3 %)
Time = t years
Using formulae to calculate amount increasing in amount in the specific percentage in specific years.
A = P ( 1+ r/100 ) 4ⁿ
A = 920 ( 1+ 3 /100)4 ⁿ
A = 920 (103/100)4ⁿ
A = 920 ( 1.03)4ⁿ
1.03 is the growth rate.
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