Chia Burgers Began Operations by Opening 115 Restaurants in Western

Multiple Choice

Chia Burgers began operations by opening 115 restaurants in Western Canada at the end of its first year of operations. By the end of year 2, an additional 5 restaurants were opened. By the end of year 3, there were 130 restaurants operational. At the end of year 5, there were 138 total restaurants.

Between the end of year 2 and the end of year 3, the number of eating establishments grew at a rate of _________ compounded annually.

A) 4.2%
B) 4.7%
C) 5.6%
D) 8.3%
E) 9.3%