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A company currently has sales of $450,000 per year. If company management increases sales by 4%...

A company currently has sales of $450,000 per year. If company management increases sales by 4% per year, what will sales be in 9 years from now?

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Answer #1

Sales in 9 years = Current Sales * (1 + Growth Rate)9

= $450,000 * (1 + 0.04)9 = $450,000 * 1.4233 = $640,490.32

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