If changing market conditions cause a company earning $12,000,000 in 2018 to project a loss of 2% of its profit in each of the next 5 years, what profit does it project in 2023? (Round your answer to the nearest dollar.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.9: Geometric Sequences As Exponential Functions
Problem 49PFA
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This is question 16 from my homework, thank you for the help!

If changing market conditions cause a company earning $12,000,000 in 2018 to project a loss of 2% of its profit in each of the next 5 years, what
profit does it project in 2023? (Round your answer to the nearest dollar.)
$
Transcribed Image Text:If changing market conditions cause a company earning $12,000,000 in 2018 to project a loss of 2% of its profit in each of the next 5 years, what profit does it project in 2023? (Round your answer to the nearest dollar.) $
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