Answer:
35 million
Step-by-step explanation:
20000000×70%=35million
Compounding is a process where the interest is credited to the initial amount and interest, on the whole, is charged again. The correct option is D, 38 millon.
Compounding is a process where the interest is credited to the initial amount and interest, on the whole, is charged again. and this continues for t period of time.
It is given by the formula,
A = P(1+r)ⁿ
where, A is the value after n period of time, P is the initial amount, and,
r is the rate of increment or decrement.
Given that On the first day of a song's release, it had 20 million streams. Also, the number of streams increases by 10% per day. Therefore, it can be said that the number of streams is compounding. Thus, the number of streams on the seventh day will be,
Number of streams = 20 (1+0.10)⁷ million
= 20 × 1.9487 million
= 38.974 million
= 38 million
Hence, the number of streams there will be on the seventh day is 38 million.
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