# College Algebra

On May 18, 2010, a company reported that it had a net profit of \$15.1 million, which represented an increase of 206.3% for 12-month period ending on March 31, 2010.

Estimate the net profit for the previous year ending on March 31, 2009 by creating an exponential growth equation using
P(t)= profit in millions
t= time in years since March 31, 2010

1. 👍 0
2. 👎 0
3. 👁 223
1. P(t) = 15.1*2.06^t

1. 👍 0
2. 👎 0

## Similar Questions

Computer World inc. paid out \$22.5 million in total common dividends and reported \$278.9 million of retained earnings at year-end. The prior year's retained earnings were \$212.3 million. What was the net income? Assume that all

2. ### 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

3. ### college algebra

According to the CDC there were 597,689 deaths in the US in 2010 attributed to heart disease. Given that the US population in 2010 was close to 308 million, what was the death rate per capita for heart disease in the US for 2010?

4. ### Marketing

Net-4-You is an internet service provider that charges its 1 million customers \$19.95 per month for its service. The company's variable cost are \$0.50 per customer per month. In addition, the company spends \$0.50 per month per

1. ### financial management

Last year Rattner Robotics had \$5 million in operating income (EBIT). The company had net depreciation expense of \$1 million and interest expense of \$1 million; its corporate tax rate was 40 percent. The company has \$14 million in

2. ### finance

Thelma and Louie's Inc started the year with a balance of retained earnings of \$547 million and ended the ear with retained earnings of \$594 million. The company paid dividends of \$37 million to the preferred stockholders and \$77

3. ### College Math

Brandywine Homecare, a not for hire business, had revenues of \$12 million in 2011. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was \$1.5 million. All revenues were collected in cash

4. ### finance (efficiency of management)

The best indication of the operational efficiency of management is? A. net income B. earnings per share C. EBIT D. gross profit I like net income as a metric for operational efficiency because net income is how much money the

1. ### accounting

For 2010, Fielder Corporation reported net income of \$30,000; net sales \$400,000; and average shares outstanding of 6,000. There were no preferred stock dividends. What was the 2010 earnings per share? (Points: 4) \$4.66 \$0.20

2. ### accounting

using the following information, calculate inventory turnover ratio, the average days in inventory, and the gross profit ratio for Howard Company for the year ended december 31, 2011( round to two decimal places) sales \$225,00

3. ### algebra

In 2010 a company reported a net income loss of 23.8 million. In 2011 the company reported a net income gain of 10.4 million. How much more income did the company earn in 2011 than in 2010

4. ### Math

The following table shows the profit, in millions of dollars, for a company from 2010 to 2013. 2011 24 Million 2011 neg 354 Million 2012 248 Million 2013 587 Million How much more profit did the company make in 2010 than in 2011,