4 You decide to take advantage of the current online dating craze and start your

Question

4

You decide to take advantage of the current online dating craze and start your own web site. You know that you have 600 people who will sign up immediately and, through a careful marketing research and analysis, determine that membership can grow by 24 percent in the first two years, 21 percent in year 3, and 18 percent in year 4. How many members do you expect to have at the end of four years? (Round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest whole number.) Members at the end of four years

Explanation / Answer

FV = PV * (1+g1)* (1+g2)*(1+g3) *(1+g4)

= 600(1.24)*(1.24)*(1.21)*(1.18)

= 1317

The number of members expected at the end of four years is 1317.

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