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In a company's first year in operation, it made an annual profit of $322,000. The
profit of the company increased at a constant 21% per year each year. How much
total profit would the company make over the course of its first 26 years of operation,
to the nearest whole number?

Respuesta :

barraldaniella63

Answer:

Since the annual profit for the FIRST YEAR is $322,000 and it increases 21% every year for 26 years, you do so to find the answer to the question.

Step-by-step explanation:

21% per year

26 years

21 x 26 = 546

Now you have to find 546% of 322,000 and add that to 322,000.

546% of 322,000 is 1,758,120.

hope this helped!

madethisfortwitch1

Answer:

$216,265,829

Step-by-step explanation:

To find the sum of a geometric series we use the following equation

[tex]a*\frac{1-r^n}{1-r}[/tex]

we have

[tex]322000*\frac{1-1.21^{26}}{1-1.21}\\\\322000*671.633=216265829[/tex]

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