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In a company's first year in operation, it made an annual profit of \$333,500$333,500. The profit of the company increased at a constant 8% per year each year. How much profit would the company make over the course of its first 24 years of operation, ?

Answer :

Delight64go

P × R × T ÷ 100

333,500 × 8% ×24 ÷ 100

64,032,000÷100

640,320

The amount of profit would the company make over the course of its first 24 years of operation should be $2,114,784.

Calculation of the amount of profit:

Since annual profit is $333,500

The profit percentage should be likely 8%

And, the number of years should be 24

So, the amount of profit should be

[tex]= $333,500 * (1 + 0.08)^{24[/tex]

= $2,114,784

hence, The amount of profit would the company make over the course of its first 24 years of operation should be $2,114,784.

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