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The occupancy was 1,260 in your 1,600 room hotel 7 years ago. Your occupancy rate has increased by 2% per year for the past 7 years. What is your current number of rooms occupied?

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JeanaShupp

Answer: 1447

Explanation:

Exponential growth equation:

[tex]y=A(1+r)^x[/tex] , where A = initial value , r= rate of growth( in decimal) , x=time

As per given , A= 1260, x= 7 years  , r=2%= 0.02  [

So,

[tex]y=1260(1+0.02)^7\\\\=1260(1.02)^7\\\\=1260\times1.14868566765\approx1447[/tex]

Hence, current number of rooms occupied = 1447

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