Question

In a company's first year in operation, it made an annual profit of $405,500. The profit of the company increased at a constant 24% per year each year. How much total profit would the company make over the course of its first 18 years of operation, to the nearest whole number?

Answer 1

Answer:

405500 x 1.24^18 =$19479651.89

$19479651.89 - $405500=$19074151. 89

$19074152