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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 $800,000.
Shark Tank Ltd. has introduced a new technological product into the market. At the end of year 1. it had an annual profit of $800,000. Because of changes to the technology. it anticipates that its profit will decrease by 11% each year during the product's 9 year lifecycle. Assuming Shark Tank Ltd. invested all of its proftin an account that earned 3% annual interest, how much would be in the account at the end of year 9? 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 10.005 million
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