question 6\nyou are in charge of calculating the growth of your companys revenue over time. in the first…

question 6\nyou are in charge of calculating the growth of your companys revenue over time. in the first year, revenue grew 10%. the following year, revenue grew 16%, then 23%, then 25%, then 28%. what is the total growth of revenue over this time, as a percentage? give as a percentage, without the percent symbol, accurate to one decimal place (for example, if your answer is 34.3754%, you should input 34.4).\nmoving to another question will save this response.

question 6\nyou are in charge of calculating the growth of your companys revenue over time. in the first year, revenue grew 10%. the following year, revenue grew 16%, then 23%, then 25%, then 28%. what is the total growth of revenue over this time, as a percentage? give as a percentage, without the percent symbol, accurate to one decimal place (for example, if your answer is 34.3754%, you should input 34.4).\nmoving to another question will save this response.

Answer

Explanation:

Step1: Convert percentages to decimals

Let the initial revenue be $R$. After the first - year, the revenue is $R_1=(1 + 0.1)R$. After the second - year, $R_2=(1 + 0.16)R_1=(1 + 0.1)(1 + 0.16)R$. After the third - year, $R_3=(1 + 0.23)R_2=(1 + 0.1)(1 + 0.16)(1 + 0.23)R$. After the fourth - year, $R_4=(1 + 0.25)R_3=(1 + 0.1)(1 + 0.16)(1 + 0.23)(1 + 0.25)R$. After the fifth - year, $R_5=(1 + 0.28)R_4=(1 + 0.1)(1 + 0.16)(1 + 0.23)(1 + 0.25)(1 + 0.28)R$.

Step2: Calculate the product

$(1 + 0.1)(1 + 0.16)(1 + 0.23)(1 + 0.25)(1 + 0.28)=1.1\times1.16\times1.23\times1.25\times1.28$. $1.1\times1.16 = 1.276$. $1.276\times1.23=1.57948$. $1.57948\times1.25 = 1.97435$. $1.97435\times1.28=2.527168$.

Step3: Calculate the total growth

The total growth is $(2.527168−1)\times100% = 152.7168%$. Rounding to one decimal place, we get $152.7$.

Answer:

$152.7$