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Shark Tank Ltd. has introduced a new technological product into the market. At the end of year 1 , it had an annual profit of

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Shark Tank Ltd. has introduced a new technological product into the market. At the end of year 1 , it had an annual profit of $950,000. Because of changes to the technology, it anticipates that its profit will decrease by 11% each year during the product's 6 year lifecycle. Assuming Shark Tank Ltd. invested all of its profit in an account that earned 4% annual interest, how much would be in the account at the end of year 6? Click here to access the TVM Factor Table calculator. $ million Carry all interim calculations to 5 decimal places and then round your final answer to 3 decimal places. Please enter your answers in millions of dollars. The tolerance is 0.005 million. eTextbook and Media Attempts: 0 of 3 used

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