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6 June, 21:18

An entrepreneur sells $15,000 worth of sports memorabilia during one year and sets a goal of increasing annual sales by $6000 each year for the next 9 years. Assuming that the entrepreneur meets this goal, find the total sales during the first 10 years of this business.

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  1. 6 June, 23:16
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    Total sales for first 10 years=$69,000

    Explanation:

    First year=$15,000

    He plans increasing annual sales by $6,000 each year for 9 years.

    Second year sales = $15,000+$6,000

    =$21,000

    Third year sales=$21,000+$6,000

    =$27,000

    Fourth year sales=$27,000+$6,000

    =$33,000

    Fifth Year sales=$33,000+$6,000

    =$39,000

    Sixth year sales=$39,000+$6,000

    =$45,000

    Seventh year sales=$45,000+$6,000

    =$51,000

    Eighth year sales=$51,000+$6,000

    =$57,000

    Ninth year sales=$57,000+$6,000

    =$63,000

    Tenth year sales=$63,000+$6,000

    =$69,000

    Or

    $6,000*9 years+$15,000

    =$54,000+$15,000

    =$69,000
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