Suppose a New Business Makes a $1,000 Profit in Its

question 9

Multiple Choice

Suppose a new business makes a $1,000 profit in its first month and has its profit increase by 9% each month for the next 2 years. How much profit will it earn in its first year? Round your answer to the nearest cent. ​

• A)$2,014.07
• B)$7,523.33
• C)$40,281.44
• D)$20,140.72
• E)$76,789.81

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Definitions:

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