Answer:
$7.7 million
Step-by-step explanation:
Given: $6.8 million profit made by company.
13% increase in profit every year.
Now, finding the company´s profit in the year of 2006.
As we know there is 13% increase in profit.
∴ Profit increase= [tex]\frac{13}{100} \times 6.8= \$ 0.884[/tex]
Next adding company´s profit with increase in profit to get profit in the year 2006.
∴ [tex]6.8+0.884= \$ 7.684[/tex] ≅ $7.7
The company´s profit in the year 2006 is $7.7 million.
