document.write( "Question 1200361: In the year 2003, a company made $6.5 million in profit. For each consecutive year after that, their profit increased by 8%. How much would the company's profit be in the year 2007, to the nearest tenth of a million dollars?
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Algebra.Com's Answer #834471 by ikleyn(52781) $\"\"$ $\"About$

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\n" ); document.write( "In the year 2003, a company made $6.5 million in profit.
\n" ); document.write( "For each consecutive year after that, their profit increased by 8%.
\n" ); document.write( "How much would the company's profit be in the year 2007,
\n" ); document.write( "to the nearest tenth of a million dollars?
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document.write( "The growth multiplicative coefficient for the profit, from year to year, \r\n" );
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document.write( "is  (1+0.08) = 1.08.\r\n" );
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document.write( "The problem says that the profit next year is the profit this year \r\n" );
document.write( "multiplied by the growth coefficient 1.08.\r\n" );
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document.write( "So, in the year 2007, 4 years from 2003, the profit will be\r\n" );
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document.write( "     = 8.8 millions of dollars  (rounded).    ANSWER\r\n" );
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