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From 2000 to 2011, there are 11 years. From the given function, we can calculate the profit for a small business at the end of 2011 by substituting 11 to the x of the given equation.
y = (30,000)(1.06)(11)
y = 349,800
Thus, the profit at the end of 2011 is approximately $349,800.
4 divided by 6 times 5 equals 3.333
This deals with exponential growth.
house value = 20,000 * (1.05)^years
(where years is # of years from 1950 - so 1950 = 0, 1951 = 1, etc)
house value = 20,000 * (1.05)^65
house value = 20,000 *
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23.8399005592
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<span><span><span>house value = 476,798.01</span>
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