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math

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carlas clothing shop opened eight years ago. the first year she made $3,000 profit. each year thereafter her profits were about 50% greater than the previous year. how much profit did carla earn during the 18th year of business?

  • math -

    It is a geometric series where
    profit for the nth year is given by
    p(n)=ar^(n-1)
    a=profit of the first year (3000)
    r=increment ratio (1.5)
    so for the 18th year, profit is
    p(18)=3000*1.5^(18-1)
    =...

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