Answer: 292
Step-by-step explanation:
Given
There are 240 members in a labor union
The number increases by 5% each year
After 1 year it is
[tex]\Rightarrow 240+5\%\times 240\\\Rightarrow 240(1+0.05)[/tex]
After 2 years
[tex]\Rightarrow 240(1+0.05)+5\%\times 240(1+0.05)\\\Rightarrow 240(1+0.05)(1+0.05)=240(1+0.05)^2[/tex]
Similarly, after 4 years
[tex]\Rightarrow 240(1+0.05)^4\\\Rightarrow 291.72\approx 292[/tex]
