As compared to its first year of operation, ABC Company grew 8% in the second year and an additional 2% per year for the next two years. If total growth for years 2-4 was $45,000 over the first year's sales of $150,000, how much did ABC Company grow in year 2?

Question

Ashly Mckay

Mathematics

13 October, 06:21

As compared to its first year of operation, ABC Company grew 8% in the second year and an additional 2% per year for the next two years. If total growth for years 2-4 was $45,000 over the first year's sales of $150,000, how much did ABC Company grow in year 2?

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Answers (1)

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Virginia Novak · Answer 1

First year sale = 150 000 dollars,

Then it grew 8% for the second years, and 2% each year for the next 2 years.

Total growth from 2-4 years increase is 45 000 dollars

Find the growth for the year 2

=> 8% = 8/100 = 0.08

=> 150 000 x. 08

=> 120 000

Thus the growth of the ABC company for the second year is 120 000, that makes it

=> 150 000 + 120 000

=> 162 000 dollars.