Annual sales for a restaurant were $575,000 in 2006. Since then, the sales increased at a rate of 3% per year. Write and use an exponential model to find the sales in 2018.

Answer:The correct answer is that the annual sales for 2018 is US$ 819,813 (Rounding to the whole nearest dollar)Step-by-step explanation:1. Let's review the data given to us for solving the question:Annual sales for a restaurant in 2006 = US$ 575,000Duration of the sales analysis = 12 yearsAnnual sales increase rate = 3%2. Let's find the annual sales turnover after 12 years in 2018, using the following formula:Sales 2018 = Sales 2006 * (1 + r) ⁿSales 2006 = US$ 575,000number of periods (n) = 12rate (r) = 3% = 0.03Replacing with the real values, we have:Sales 2018 = 575,000 * (1 + 0.03) ¹²Sales 2018 = 575,000 * 1.42576089Sales 2018 = US$ 819,813 (Rounding to the whole nearest dollar)