To find out how much ABC Company grew in year 2, we need to find the percentage growth for year 2 first.
Let's assume the growth in year 2 is represented by 'x'.
So, the total sales in year 2 would be (100% + 8%) * Year 1 sales.
Therefore, the sales in year 2 would be 108% of the Year 1 sales or (1 + 0.08) * $150,000.
Sales in year 2 = 1.08 * $150,000 = $162,000.
Now, we can calculate the sales in year 4:
Sales in year 4 = (1 + 0.08 + 0.02 + 0.02) * Year 1 sales
= 1.12 * $150,000
= $168,000.
Now, we can find the total growth for years 2-4 by subtracting Year 1 sales from sales in year 4:
Total growth for years 2-4 = Sales in year 4 - Year 1 sales
= $168,000 - $150,000
= $18,000.
However, we are given that the total growth for years 2-4 is $45,000.
Since we know the growth for year 2 is 'x', and the total growth for years 2-4 is $45,000, we can form the equation:
x + $18,000 = $45,000.
Solving for 'x', we get:
x = $45,000 - $18,000
= $27,000.
Therefore, ABC Company grew $27,000 in year 2.