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  • 13-03-2017
  • Business
contestada

Smartshop's profits have been growing at 5% per year. this year their profits were approximately $500,000. what were their profits last year?

Respuesta :

eehore
eehore eehore
  • 13-03-2017
if 1.05x = 500 000 
where x is the previous year's profit 

x = 500 000 / 1.05 
x = $467190
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