Answer: 19.6 million
Step-by-step explanation:
The exponential growth function is given by :-
[tex]A=A_0(1+r)^x[/tex], where A is the initial amount , r is rate of interest and x is time period.
Given : The automobile sales in a country this year : A= 20.6 million
The rate of increase : r = 4.9 %=0.049
For last year , we take x = 1 , then the required exponential equation will be :-
[tex]20.6=A_0(1+0.049)^1\\\\\Rightarrow\ A_0=\dfrac{20.6}{1.049}=19.63775\approx19.6[/tex]
Hence, the number of auto sales in the country last year = 19.6 million.
