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Sawyer Corporation's 2017 sales were $6 million. Its 2012 sales were $3 million. a. At what rate have sales been growing ? Round your answer

Sawyer Corporation's 2017 sales were $6 million. Its 2012 sales were $3 million.

a. At what rate have sales been growing ? Round your answer to two decimal places.

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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