A new computer company earns a profit of $245000 in its first year. The company expects the profits to increase by 15% each year for each subsequent year. Using your annuity formula, find the total profit

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asked May 15, 2022 175k views

16 votes

A new computer company earns a profit of $245000 in its first year. The company

expects the profits to increase by 15% each year for each subsequent year. Using
your annuity formula, find the total profit earned in its first 10 years.

Mathematics
high-school

Dave Oakley asked

by Dave Oakley

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1 Answer

11 votes

Answer:

612500

Explanation:

15%of245000=36750

367050×10=367500

367500+245000=612500

Aakash Singh answered May 20, 2022

by Aakash Singh

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