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GROWTH RATES: Shalit Corporations 2008 sales were $12million. Its 2003 sales were $6 million. a. At what rate have salesbeen growing? b. Suppose you made

GROWTH RATES: Shalit Corporations 2008 sales were $12million. Its 2003 sales were $6 million.

a. At what rate have salesbeen growing?

b. Suppose you made thisstatement: Sales doubled in 5 years. This represents agrowth of 100% in 5 years; so dividing 100% by 5, we find thegrowth rate to be 20% per year. Is this statementcorrect?

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