Homework Help: math

Posted by chelsea on Thursday, May 26, 2011 at 10:01pm.

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 - MathMate, Thursday, May 26, 2011 at 10:38pm
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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