Math Problem Statement
in 2014, a tech startup reported an initial revenue of $750,000. Over the following years, the company saw fluctuating growth rates that need to be analyzed carefully. From 2014 to 2016, the company experienced steady revenue growth at a rate of 10% per year. However, beginning in 2017, the company faced changes in market conditions, and its growth rate slowed. Between 2017 and 2019, the annual growth rate averaged 7%. Then, from 2020 to 2022, the company's expansion faced further challenges, with the growth rate dipping to 5% per year. Given these different phases of growth, calculate the company's total projected revenue in 2022, analyzing the cumulative effect of each distinct growth period. Your analysis should also account for the impact of compounded percentage increases over time.
Solution
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Math Problem Analysis
Mathematical Concepts
Exponential Growth
Compound Interest
Percentage Growth
Formulas
Rn = R0 × (1 + r)^n
Rn = Final revenue after n years
R0 = Initial revenue
r = Growth rate per year
n = Number of years of growth
Theorems
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Suitable Grade Level
Grades 10-12
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