Question 1200361
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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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<pre>
The growth multiplicative coefficient for the profit, from year to year, 

is  (1+0.08) = 1.08.


The problem says that the profit next year is the profit this year 
multiplied by the growth coefficient 1.08.


So, in the year 2007, 4 years from 2003, the profit will be

    {{{6.5*1.08^4}}} = 8.8 millions of dollars  (rounded).    <U>ANSWER</U>
</pre>

Solved.