Alocal dunkin' donuts shop reported that its sales have increased exactly 20% per year for the last 2 years. this year's sales
were $80,468. what were dunkin' donuts' sales 2 years ago? (round each year's sales to the nearest dollar.)

$55,881

Explanation:

A = P (1 + r)^t

where A is the final amount,

P is the initial amount,

r is the rate,

and t is time.

Given: A = 80468, r = 0.20, and t = 2.

80468 = P (1.20)^2

P ≈ 55881

The sales 2 years ago was approximately $55,881.

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