Answer :
Answer:
- B. $45341.60
Step-by-step explanation:
Given:
- Initial profit = $37800
- Rate of appreciation = 2.3% per year
The equation for this:
- [tex]P(t) = 37800*(1 + 0.023)^t = 37800*1.023^t[/tex]
Find the value of P(8):
- [tex]P(8) = 37800*1.023^8 = 45341.60[/tex]
Correct choice is B