A company has total sales in 2018 of $500,000 and expects sales to grow at a compounded annual rate of 3% each year for the next several years. What will sales be in 2020? a) $515,000 b) $530,450 c) $

A company has total sales in 2018 of $500,000 and expects sales to grow at a compounded annual rate of 3% each year for the next several years. What will sales be in 2020?

a) $515,000
b) $530,450
c) $ 546,363

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