In the year 2001, a company made $7.2 million in profit. For each consecutive year after that, their profit increased by 11%. How much would the company's profit be in the year 2005, to the nearest tenth of a million dollars?
In the year 2001, a company made $7.2 million in profit. For each consecutive year after that, their profit increased by 11%. How much would the company's profit be in the year 2005, to the nearest tenth of a million dollars?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter7: Conic Sections And Quadratic Systems
Section7.CM: Cumulative Review Exercises
Problem 51CM
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In the year 2001, a company made $7.2 million in profit. For each consecutive year after that, their profit increased by 11%. How much would the company's profit be in the year 2005, to the nearest tenth of a million dollars?
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