Solve the problem.
-During a five-year period, a company doubles its profits each year. If the profits at the end of the fifth year are $224,000, then what are the profits for each of the first four years?
A)$14,000, $28,000, $42,000, $56,000
B)$14,000, $28,000, $56,000, $112,000
C)$15,000, $30,000, $60,000, $118,000
D)$14,000, $28,000, $56,000, $140,000

Question

Quizplus · Accepted Answer

The profits double each year, so to find the profits for each of the first four years, you work backwards from the fifth year's profits of $224,000. In the fourth year, the profits would be $224,000 / 2 = $112,000. In the third year, the profits would be $112,000 / 2 = $56,000. In the second year, the profits would be $56,000 / 2 = $28,000. In the first year, the profits would be $28,000 / 2 = $14,000. Therefore, the correct sequence is $14,000, $28,000, $56,000, $112,000.

Solve the Problem. -During a Five-Year Period, a Company Doubles Its Profits Each