Lets suppose that in 2014, in Peru, health expenditures were 75347.2 million, and each year that ammount grows by 5% compared to the previous year. (so it adds to the previous ammount)
If i start with 75347.2 (Year 0) then in the first year the expenditures will be 79114.56
what i did was:
find 5% (0,05) of 75347,2 by:
75347.2 x0,05=3767.36
and then add it to the first number
3767.36+75347.2=79114.56 in expenditures the first year.
Now my starting number will be 79114.56 (Year 1)
so:
Year 0: 75347.2
Year 1: 79114.56
Year 2: 83070.228
and so...
How many years will it take to reach 300000 in expenditures?
This is the question i don't know how to answer.
Year X: 300000
Doing one year at a time will take forever.
If i start with 75347.2 (Year 0) then in the first year the expenditures will be 79114.56
what i did was:
find 5% (0,05) of 75347,2 by:
75347.2 x0,05=3767.36
and then add it to the first number
3767.36+75347.2=79114.56 in expenditures the first year.
Now my starting number will be 79114.56 (Year 1)
so:
Year 0: 75347.2
Year 1: 79114.56
Year 2: 83070.228
and so...
How many years will it take to reach 300000 in expenditures?
This is the question i don't know how to answer.
Year X: 300000
Doing one year at a time will take forever.