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Ksju [112]
3 years ago
8

In the year 2007, a company made $4 million in profit. For each consecutive year after that, their profit increased by 14%. How

much would the company's profit be in the year 2011, to the nearest tenth of a million dollars
Mathematics
1 answer:
Dafna11 [192]3 years ago
5 0

Answer:

$6.76 million

Step-by-step explanation:

The computation of the profit of the year in 2011 is shown below:

Given that

In year 2007, it made $4 million profits

And it would be increased by 14% till 2011

So,

= $4 million × (1 + 0.14)^4

= $4 million × 1.68896016

= $6.76 million

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