math

A new computer software company earns a profit of $245 000 in its first year. The company expects the profit to increase by 15% each year for each subsequent year.
(a) What profit can the company expect to earn in its seventh year?
(b) Find the total profit the company will earn in its first ten years.

  1. 2
asked by Mc cain
  1. in first year:
    245,000
    in second year
    245,000 (1.15)^1
    in third year
    245,000 (1.15)^2

    in nth year
    245,000 (1.15)^(n-1)

    NOW - go to web site Math is fun and look upo geometric sequence with
    a = 245,000
    and
    r = 1.15

    it also shows you how to sum the first ten terms :)
    http://www.mathsisfun.com/algebra/sequences-sums-geometric.html

    posted by Damon
  2. Thanks Damon!

    posted by Johnny McKarron is cool

Respond to this Question

First Name

Your Response

Similar Questions

  1. Linear Programming - Math

    A small software company publishes computer games and educational and utility software. Their business strategy is to market a total of 36 new programs each year, at least four of these being games. The number of utility programs
  2. maths

    in 1992, a software company had a profit of $30,000,000. in 1998, the company had a profit of $210,000,000. find the average rate of change of the company's proft in dollars per year. I have no idea how to this. please explain
  3. Statistics

    A life insurance company sells a term insurance policy to a 21-year-old male that pays $100,000 if the insured dies within the next 5 years. The probability that a randomly chosen male will die each year can be found in mortality
  4. Math Problem (please help)

    A small software company invests $30,000 to produce a software package that will sell for $64.95. Each unit can be produced for $42.25. How many units must be sold to break even? How many units must be sold to make a profit of
  5. Maths

    A construction company is owned by two partners X and Y and it is agreed that their profit will be divided in the ratio 4:5. at the end of the year. Y received #5,000 more than x. what is the total profit of the company for the
  6. college algebra

    A magazine company had a profit of $98,000 per year when it had 32,000 subscribers. When it obtained 35,000 subscribers, it had a profit of $117,500. Assume that the profit P is a linear function of the number of subscribers s.
  7. college algebra

    A magazine company had a profit of $98,000 per year when it had 32,000 subscribers. When it obtained 35,000 subscribers, it had a profit of $117,500. Assume that the profit P is a linear function of the number of subscribers s.
  8. math

    4.Suppose John sells his house and earns a profit of $600,000. With the profit, he buys a 20 year annuity that earns 6.5% interest compounded monthly. What monthly payment will John get?
  9. college algebra

    The Vilas County News earns a profit of $20 per year for each of its 3,000 subscribers. Management projects that the profit per subscriber would increase by 1¢ for each additional subscriber over the current 3,000. How many
  10. college algebra

    The Vilas County News earns a profit of $20 per year for each of its 3,000 subscribers. Management projects that the profit per subscriber would increase by 1¢ for each additional subscriber over the current 3,000. How many

More Similar Questions