The projected worth of a large company is modeled by:
[tex]w=241(1.03)^t[/tex]The general formula for an exponential function is:
[tex]\text{Present }=\text{past}(1+growth-rate)^t\text{ }[/tex]Comparing the general formula with the projected worth of the large company
[tex]w=241(1+0.03)^t[/tex]Hence, the annual percent growth would be:
[tex]0.03\times100\text{\%}=3\text{\%}[/tex]The worth of the company in 2012 would be:
[tex]\begin{gathered} w=241(1.03)^t \\ t=2012-2000=12 \\ \text{put }t=12 \\ w=241(1.03)^{12} \\ w=343.61 \end{gathered}[/tex]Therefore, the projected annual percent of growth and the worth of the company in 2012 would be:
[tex]3\text{\%; \$343.61 million \lbrack{}option A\rbrack}[/tex]