Your finance text book sold 45,500 copies in its first year. The publishing comp

Question

Your finance text book sold 45,500 copies in its first year. The publishing company expects the sales to grow at a rate of 19.0 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

1st year sales = 45500

sales to grow @ 19% for next 3 years

2nd year sales = 45500+19% = 54145

3rd year sales = 54145+19% =64432.55

4th year sales = 64432.55+19% = 76674.7345

Sales to grow @ 12% after 3 year in next 4th year

Sales after 3 years = 766474.7345+12% = 85875.70264

So, Number of copies sold after 3 years = 85875.70264

Number of copies sold in the 4th year = 76674.7345

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