Thank you for visiting By 2026 digital commerce is expected to be 6 6 trillion What is the expected value in 2030 if digital commerce grows at an annual. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
To find the expected value of digital commerce in 2030, given that it grows annually at a rate of 17%, we can use the formula for compound interest. The formula is:
[tex]A = P (1 + r)^n[/tex]
where,
- [tex]A[/tex] is the amount of money accumulated after n years, including interest.
- [tex]P[/tex] is the principal amount (initial value).
- [tex]r[/tex] is the annual interest rate (expressed as a decimal).
- [tex]n[/tex] is the number of years the money is invested or borrowed.
Here, our principal amount [tex]P[/tex] is the value in 2026, which is $6.6 trillion. The annual growth rate [tex]r[/tex] is 17%, or 0.17 as a decimal. The time period [tex]n[/tex] is four years (from 2026 to 2030).
Plug these values into the formula:
[tex]A = 6.6 \times (1 + 0.17)^4[/tex]
Calculating inside the parentheses first:
[tex]1 + 0.17 = 1.17[/tex]
Next, calculate the power:
[tex]1.17^4 = 1.86048[/tex]
Then multiply by the principal:
[tex]A = 6.6 \times 1.86048 = 12.279168[/tex]
Thus, after rounding to match the provided options, the expected value of digital commerce in 2030 is approximately $12.368 trillion.
The chosen option is $12.368 trillion.
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