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IB Mathematics

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A company’s revenue in year 0 is R0 = 8.0 × 105 dollars. Each year, the revenue is multiplied by a constant factor k with 1 < k < 1.2. After n years, the revenue is Rn = R0 kn.

(a) Given R3 = 1.10 × 106, find k correct to 3 significant figures.[2]
(b) Find the least integer n such that Rn ≥ 1.5 × 106.[3]

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