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GROWTH RATES Sawyer Corporations 2020 sales were $5 million. Its 2015 sales were $2.5 million. a. At what rate have sales been growing? b. Suppose

GROWTH RATES Sawyer Corporations 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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