Your finance textbook sold 47,000 copies in its first year. The publishing compa

Question

Your finance textbook sold 47,000 copies in its first year. The publishing company expects the sales to grow at a rate of 16.0 percent for the next three years, and by 6.0 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

Your finance textbook sold 47,000 copies in its first year. The publishing company expects the sales to grow at a rate of 16.0 percent for the next three years, and by 6.0 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

3yrs: 47,000*(1.16)^3 = 73362

4th year: 73362*1.06 = 77764

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