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Math Help - Help!!!!!!

  1. #1
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    Help!!!!!!

    Mintel's forecast for the premium chocolate market shows growth of 73 percent in current terms and 53 percent in constant terms over the next 5 years. Total premium chocolate sales in the U.S. are forecasted to reach $3,554 million by 2011.[1]

    Based on these current and constant growth % terms, I need a total for the year 2008. A total in current terms and a separate total in constant terms is fine—I just need the % adjusted from the 5 year span backwards from 2011 to 2008. (And I have no idea how to do this)
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by chckn440 View Post
    Mintel's forecast for the premium chocolate market shows growth of 73 percent in current terms and 53 percent in constant terms over the next 5 years. Total premium chocolate sales in the U.S. are forecasted to reach $3,554 million by 2011.[1]

    Based on these current and constant growth % terms, I need a total for the year 2008. A total in current terms and a separate total in constant terms is fine—I just need the % adjusted from the 5 year span backwards from 2011 to 2008. (And I have no idea how to do this)
    Assuming that the 2011 sales are in 2011 $'s and that the 73% growth is in current $ values, then if current sales are x millions of 2008 $'s we have:

    3554=x(1+75/100)

    so:

    x=3554/1.75 millions of $'s

    To get the current sales in 2011 $'s do the same calculation (now x is current sales in 2011 $'s) except we replace the 75 by 53.

    CB
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