PART II: ESSAY QUESTIONS / BONUS QUESTIONS Note: A bonus question carry the same weight as an individual question (#1-30). For example, a simple True / False question from Part 1 (e.g.) #3 is weighted the same as more time-consuming bonus question such as Question #34. 31. Suppose someone makes the following statement: "Sales doubled in 5 years. This represents a growth of 100% in 5 years; so dividing 100% by 5 , we conclude the growth rate to be 20% per year". Is this statement correct and what is the actual annual growth rate? a. No; actual annualized growth rate is around 12% b. No; actual annualized growth rate is around 13% c. No: actual annualized growth rate is around 14% d. No; actual annualized growth rate is around 15% e. No: actual annualized growth rate is around 16%