### Home > PC3 > Chapter 9 > Lesson 9.1.3 > Problem9-59

9-59.

Derek has been raising steers for $5$ years. Each year he contributes the money that he makes from the sale of his steer to his college fund. This year he was able to sell his $1375$ pound steer for $2.03$/lb. Each year the price per pound has increased by $6\%$. What should he expect to sell his steer for in his $12^{\text{th}}$ year?

This is exponential growth. If the increase is $6\%$ per year, what is the multiplier?

How many more years is it until Derek's $12^{\text{th}}$ year?