SOLUTION: metro cable tv had sales of $2,500,000 in its first year of operation. if thereafter the sales increased by 12% of the previous year, find the sales of the company in the fifth yea

Question 1110093: metro cable tv had sales of $2,500,000 in its first year of operation. if thereafter the sales increased by 12% of the previous year, find the sales of the company in the fifth year and the total sales over the first 5 years of operation
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
Sales of the company in its' fifth year:
2500000 x (1.12)^5=4405854.21
Sales of the company over first five years:
2500000 x Σn=0-5 (1.12)^n=2500000 x 79249893/9765625=20287972.61
☺☺☺☺
RELATED QUESTIONS
Cable Television In 2006, 86%of U.S. households had cable TV. Choose 3 households at... (answered by robertb)

In 2014, quarterly sales for full-service restaurants and shoe stores in the United... (answered by ikleyn)

Cable Television In 2006, 86% of U.S. households had cable TV. Choose 3 households at... (answered by edjones)

2. It has been estimated that 40% of the televisions that the manufacturer makes need... (answered by ikleyn)

2. It has been estimated that 40% of the televisions that the manufacturer makes need... (answered by CPhill)

If sales at ABC Company was $0.8 million in the first year of operation and is expected... (answered by Theo)

It has been estimated that 40% of the televisions that the manufacturer makes need... (answered by Boreal)

It has been estimated that 40% of the televisions that the manufacturer makes need... (answered by CPhill)

A sales tax officer has reported that the average sales of the 500 business that he... (answered by Theo)