Question

Jessica opened an apparel shop five years ago. In the first year, she made a profit of $3,125. Each year after that, her profit was 20 percent more than in the previous year. What is the total profit Jessica earned in 5 years?

Answer 1

The total profit she earned over 5 years was $23,255. First, you have to find 20% of 3125, which can be found by multiplying 0.2 by 3125. Then, you add the product, 625, to 3125. The sum, 3750, is the profit she earned in year 2. You repeat these same steps until you reach year five (find 20% of 3750, add, repeat with new sum). Once you have each amount of each year, you add all of them together, giving you the total, $23,255. Year 1- 3125 Year 2-3750 Year 3-4,500 Year 4-5400 Year 5-6480

Answer 2

Answer:

$23,255

Step-by-step explanation:

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