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2. a. Fred's Hardware and Hobby House expects its sales to increase at a constant rate of 8 percent per year over the next three

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2. a. Fred's Hardware and Hobby House expects its sales to increase at a constant rate of 8 percent per year over the next three years. Current sales are $100,000. Fore- cast sales for each of the next three years. b. If sales in 2003 were $60,000 and they grew to $100,000 by 2007 (a four-year period), what was the actual annual compound growth rate

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