A Company Earned a Profit of $5,000,000 in Its First

Multiple Choice

A company earned a profit of $5,000,000 in its first year, but its profits decreased by 9% in each of the next 6 years. What is the sum of its yearly profits for its first 7 years? Round your answer to the nearest cent.

A) $26,846,610.04
B) $24,007,263.78
C) $29,430,415.13
D) $46,002,173.38