Sawyer Corporations 2020 sales were $5 million. Its 2015 sales were $2.5 million. a. At what rate
Question:
Sawyer Corporation’s 2020 sales were $5 million. Its 2015 sales were
$2.5 million.
a. At what rate have sales been growing?
b. Suppose someone made this statement: “Sales doubled in 5 years. This represents a growth of 100% in 5 years; so dividing 100% by 5, we find the growth rate to be 20% per year.” Is the statement correct?
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Related Book For 
Fundamentals Of Financial Management
ISBN: 9780357517574
16th Edition
Authors: Eugene F. Brigham, Joel F. Houston
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