Question

In a company's first year in operation, it made an annual profit of \$333,500$333,500. The profit of the company increased at a constant 8% per year each year. How much profit would the company make over the course of its first 24 years of operation, ?

Answer 1

P × R × T ÷ 100

333,500 × 8% ×24 ÷ 100

64,032,000÷100

640,320