SOLUTION: Suppose that the Happy Tail veterinary clinic earns $200,000 in profits this year. If its profits grow at 25% per year, how many years will pass before its annual profit is $1 mill

Question 1045935: Suppose that the Happy Tail veterinary clinic earns $200,000 in profits this year. If its profits grow at 25% per year, how many years will pass before its annual profit is $1 million?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
The equation is:

where = time in years

Take the log of both sides

7 yrs will pass before annual profit is $1 million
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check:

close enough

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