2. due to tough market conditions, a companys...
2. due to tough market conditions, a companys annual net profit is expected to decrease by 1% per year for the next few years. their annual net profit for the current financial year is $332000. 2a write a function, y, to represent the companys annual net profit in m years. y = 332000·(0.99)^m 2b find the companys annual net profit in 6 years to the nearest cent. annual net profit = |enter your next step here| dollars
Answer
# Explanation:
## Step1: Identify the function
We have the function $y = 332000\cdot(0.99)^{m}$ from part 2a, where $m$ is the number of years.
## Step2: Substitute $m = 6$
Substitute $m = 6$ into the function: $y=332000\times(0.99)^{6}$.
## Step3: Calculate $(0.99)^{6}$
$(0.99)^{6}=0.99\times0.99\times0.99\times0.99\times0.99\times0.99\approx0.941480$.
## Step4: Calculate $y$
$y = 332000\times0.941480\approx312571.36$.
# Answer:
$312571.36$