Question

The yearly profits of Sam's Sandwich Shop are $35,000. If the profits decrease by 4.7% each year. What will his profits be in 12 years?

 

Answer 1

Time, t = 12 years

Starting Profit, P = 35000

rate = -4.7

Final Profit = 35000*(1-4.7/100)^12 = 19641.87089