Im so confused
since 2004, the amount of money spent at restaurants in a certain country has increased at a rate of 7% each year. in 2004, about $320 billion was spent at restaurants. if the trend continues, about how much will be spent at restaurants in 2015? round to the nearest whole number as needed.

Once you reach calculus, you will learn a easier way to solve this problem. You can also use a formula or TSI calculator to find it. If you don’t have either of these available, I will explain step by ste how to solve this problem on paper. You have to be able to find 7% of $320 billion. To do this, you can multiply 320 by .07. Ignore the units for now. So if you multiply 320 by .07, you should get 22.4. So 7% of $320 billion is $22.4 billion. According to the problem, the increased rate will always be 7%. There are 11 years between 2004 and 2015. Let’s find the amount of 2005 first. You would find this by taking the original $320 billion and add the 7% to it because that is how much it will increase by. Because it is increasing, you must add the 7% to the original 100%, the $320 billion. $320 plus $22.4 is $342.4 billion. This was the amount spent in 2015. Next, you would find 7% of $342.4 billion, which would be 342.4 multiplied by .07. Take the answer and add it to $342.4 billion. Continue doing this until you reach the amount spent in 2015. Hope this helps!