A clothing shop opened eight years ago. The first year it made $9000 profit. Each year thereafter the profits averaged 26% greater than the previous year. How much profit has been earned in total by the 7th year? Round to two decimal places.
A clothing shop opened eight years ago. The first year it made $9000 profit. Each year thereafter the profits averaged 26% greater than the previous year. How much profit has been earned in total by the 7th year? Round to two decimal places.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A clothing shop opened eight years ago. The first year it made $9000 profit. Each year
thereafter the profits averaged 26% greater than the previous year. How much profit has been earned in total by the 7th year? Round to two decimal places.
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