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Thread: Mathematics of Finance: Retail Sales Word Problem

  1. #1

    Smile Mathematics of Finance: Retail Sales Word Problem

    I need help with the following word problem: I have tried several times to get the right answer but I have failed so far! Thanks

    Online Retail Sales: Online retail sales stood at $141.4 billion for the year 2004. For the next 2 years they grew by 24.3% and 14.0% per year, respectively. For the next 3 years, online retail sales were projected to grow at 30.5%, 17.6%, AND 10.5% per year, respectively, What were the projected online sales for 2009?

  2. #2
    Elite Member
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    HINT:
    2005: 141.40 * 24.3/100 = 34.36 : 141.4 + 34.36 = 175.76
    2006: 175.76 (continue as above)
    I'm just an imagination of your figment !

  3. #3
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    Hello, bkjanet4!
    Online retail sales stood at $141.4 billion for the year 2004. For the next 2 years they grew by 24.3% and 14.0% per year, resp. For the next 3 years, they were projected to grow at 30.5%, 17.6%, an 10.5% per year, resp.What were the projected online sales for 2009?
    [tex]\text{Answer: }\:141.4b \times 1.243 \times 1.14 \times 1.305 \times 1.176 \times 1.105 [/tex]

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