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.
From the end of year 1 to the end of year 5, the number of eating establishments grew at a rate of
____________ compounded annually.

A) 4.2%
B) 4.7%
C) 5.6%
D) 8.7%
E) 9.3%