Question

In the year 2009, a company made $8.4 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?

Answer 1

$10.8 million or 10,752,000

Explanation:

14% of 8,400,000 is 1,176,000

t = time in years

In one year, the company would make 8,400,000+(t*1,176,000)

In 2 years they make 8,400,000+(2*1,176,000) = 10,752,000

now round 10,752,000 to the nearest hundred thousand, which is 1/10 of 1,000,000.