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Suppose the function y = 30,000 (1.06) x models the annual profit for a small business x years after 2000. Find the profit at the end of 2011.

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  1. 5 March, 23:30
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    From 2000 to 2011, there are 11 years. From the given function, we can calculate the profit for a small business at the end of 2011 by substituting 11 to the x of the given equation.

    y = (30,000) (1.06) (11)

    y = 349,800

    Thus, the profit at the end of 2011 is approximately $349,800.
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