Please simplify the answer
1 answer:
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Answer:
$7.7 million
Step-by-step explanation:
Given: $6.8 million profit made by company.
13% increase in profit every year.
Now, finding the company´s profit in the year of 2006.
As we know there is 13% increase in profit.
∴ Profit increase=
Next adding company´s profit with increase in profit to get profit in the year 2006.
∴ ≅ $7.7
The company´s profit in the year 2006 is $7.7 million.