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
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-> 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
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Question 192809: 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 work this out? Your help would be greatly appreciated. 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
