Assume the membership of a social media site is increasing at a rate of 7% per year. If the social media site has 7,000,000 members today, how many members will they have in 4 years?
7% of 7,000,000 is 490,000 (This is year 1) 7% of 7,490,000 is 524,300 (This is year 2) 7% of 8,143,000 is 570,010 (This is year 3) 7% of 8,713,010 is 609,911 (This is year 4) At the end of 4 years, the number of users is 9,322,921 members.
