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SmartShop's profits have been growing at 5% per year. This year their profits were approximately $500,000. What were their profits last year?

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SmartShops profits have been growing at 5 percent per year This year their profits were approximately 500000 What were their profits last year?

474000


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The answer depends on the period for which the old profits are required.


Smart Shops profits have been growing at 5 percent per year This year their profits were approximately 500000 What were their profits last Which one is the correct answer?

475000


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475000


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475000


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