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Retail revenue from shopping on the Internet is currently growing

/in /by

Retail revenue from shopping on the Internet is currently growing
at a rate of 26% per year. In 2003, a total of $39 billion in revenue was collected through the Internet retail sales. Answer the following questions using y equals 39(1.26)^t where y is Internet revenues in billions of dollars and t is the number years after 2003. Round answers to the nearest 10th of $1 billion. Please state your approach, the formula, and steps for solving (NOT THE ANSWER HERE).

A. According to the model, what level of retail revenues Internet shopping was expected in 2005?

 
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