The cost of a loaf of bread is now $\$2.79$ and has been increasing $8\%$ per year for several years.

1. At the same rate, what will it cost in $5$ years?

   Hint (a):

   • What is the multiplier? Use the multiplier to calculate your answer.

   • Answer (a):

   • $\$4.10$

2. What did it cost $5$ years ago?

   Hint (b):

   • Think of this as a geometric sequence.
     Going forwards (in time) you multiply.
     How would you go backwards (in time)?