NO CALCULATOR
Medium
[Maximum mark: 5]
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] |