Concept explainers
Business and Finance The formula for a company’s net profit margin M expressed as a percent is given by
where I represents net income and R represents net revenue.
If a company had a net profit margin of 2.85% on net revenue of $4,625,000, what was its net income? (Round to the nearest hundred dollars.)
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Mathematics for the Trades: A Guided Approach (11th Edition) (What's New in Trade Math)
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