Question

The value of Dhanu’s model railway is $550. This value increases exponentially at a rate of r% per year. At the end of 5 years the value will be $736. Calculate the value of r.

Answer 1

Answer:

6.1%

Step-by-step explanation:

Pn=Po(1+r)^n

or

r=antilog {[log(Pn)-log(Po)]/n}