Your finance text book sold 56,000 copies in its first year. The publishing comp

Question

Your finance text book sold 56,000 copies in its first year. The publishing company expects the sales to grow at a rate of 15.0 percent for the next three years, and by 12.0 percent in the fourth year. Calculate the total number of copies that the publisher expects to sell in year 3 and 4. (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answers to the nearest whole number.) Number of copies sold after 3 years Number of copies sold in the fourth year

Explanation / Answer

given 1st yr copies = 56000 copies. 2nd yr copies = 56000 x 1.15 = 64400 copies 3rd yr copies = 64400 x 1.15 = 74060 copies and 4th yr = 74060 x 1.15 = 85169 copies 5th yr copies = 85169 units x 1.15 = 97944.35 copies

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