Question

in the year 2010, a company made $7.1 million in profit. for each consecutive year after that, their profit increased by 9%. how much would the company’s profit be in the year 2012, to the nearest tenth of a million dollars?

Explanation:

Step1: Calculate 2011 profit

The 2011 profit is the 2010 profit plus 9% of it, which is equivalent to multiplying the 2010 profit by 1.09.
$\text{Profit}_{2011} = 7.1 \times 1.09 = 7.739$ million dollars

Step2: Calculate 2012 profit

The 2012 profit is the 2011 profit multiplied by 1.09.
$\text{Profit}_{2012} = 7.739 \times 1.09 = 8.43551$ million dollars

Step3: Round to nearest tenth

Round the 2012 profit to one decimal place.
$8.43551 \approx 8.4$

Answer:

8.4 million dollars