In 5 years the demand will be about $19.33 million.
Given:
The formula for compound growth is [tex]E = B \times (1 + R)^T[/tex], where E is ending value, B is beginning value, R is rate of growth, and T is the amount of time.
Demand for electrical services (B) = $12 million per year
Growth rate (R) = 10%
T= 5 years
Computation:
Substitute all values in the formula , we get
[tex]E = 12 \times (1 + 0.1)^5\\\\=12(1.1)^5\\\\=12\times1.61051=19.32612\approx19.33[/tex]
In 5 years the demand will be about $19.33 million.
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Answer: it D
Step-by-step explanation: just took the test
