Business: exponential growth. Tina's Tea Time is experiencing growth of 6% per year in the number, N, of franchises it owns; that is, dN/dt = 0.06 N
where N is the number of franchises and t is the time in year, from 2012.
(a) Given that there were 8500 franchises in 2012, find the solution equation, assuming that No = 8500.
(b) Predict the number of franchises in 2020.
(c) What is the doubling time for the number of franchises?