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Two competing businesses make the same item and sell it

Question: Solve the given problems by use of an appropriate sequence or expansion. All numbers are accurate to at least two significant digits.

Two competing businesses make the same item and sell it initially for $100. One increases the price by $8 each year for 5 years, and the other increases the price by 8% each year for 5 years. What is the difference in price after 5 years?

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Mathematics: Two competing businesses make the same item and sell it

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Mathematics: Two competing businesses make the same item and sell it

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