A Firm's Net Income Last Year Was $2

question 85

Multiple Choice

A firm's net income last year was $2.65 million. Its net income grew 8 percent during the last "5" years. If that growth rate continues, how long will it take for the firm's net income to double?

• A) 6.6 years
• B) 7.1 years
• C) 8.2 years
• D) 9 years

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Definitions:

Industrialization

An economic system based on using non-animate sources of energy.

Greenhouse Gases

Gases in Earth's atmosphere, such as carbon dioxide, methane, and water vapor, that trap heat and contribute to global warming and climate change.

Environmental Sustainability

The practice of ensuring natural resources are used in a way that maintains their viability and preserves them for future generations.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.