Math Problem Statement
if the 100th most valuable company continued to grow at the same rate it averaged between 2014 and 2022, in which year would it be worth more than 110 billion dollars? 2023, 2024, 2025,2026 or 2027
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Growth
Exponential Growth
Formulas
Compound Annual Growth Rate (CAGR) formula: CAGR = (End Value / Start Value)^(1 / Number of Years) - 1
Future Value formula: Future Value = Current Value × (1 + CAGR)^n
Theorems
Exponential Growth Formula
Suitable Grade Level
Grades 10-12
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