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You are considering a gradual expansion of your restaurant's square footage. Three tables per year will increase your profits by 4% per year. Your current yearly profit is $135,000. What will your annual profit be after 5 years?
a) $138,909
b) $155,344
c) $164,248
d) $188,125

Sagot :

Answer:

Annual profit after 5 year = $164,248 (Approx)

Explanation:

Given:

Current year profit P = $135,000

Growth g = 4 % = 0.04

Number of year n = 5 year

Find:

Annual profit after 5 year

Computation:

Annual profit after 5 year = P(1+g)ⁿ

Annual profit after 5 year = 135,000(1+0.04)⁵

Annual profit after 5 year = $164,248 (Approx)

Answer:

C) $164,248

Explanation:

None, I did the quiz and that was the answer

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