SOLUTION: Given Year 1, Year 2, Year 3, with an average between all three of $2,400,000. Year 2 has a 4% increase over Year 1 and Year 3 has a 4% increase over Year 2, what is the dollar amo

Question 192808: Given Year 1, Year 2, Year 3, with an average between all three of $2,400,000. Year 2 has a 4% increase over Year 1 and Year 3 has a 4% increase over Year 2, what is the dollar amount for each year?

Does anyone know how to solve this, the answer cannot be "x" because I need the number to be able to work through the rest of the problem. Your help would be greatly appreciated thank you!
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
Let x=amount for yr 1.
[x+1.04x+(1.04x+.04(1.04x)]/3=2400000
(x+1.04x+1.0816x)/3=2400000
3.1216x/3=2400000
3.1216x=7200000
x=2306509.48 year 1
1.04x=2398769.86 year 2
1.0816x=2494720.66 year 3
.
Ed

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