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Suppose that a company's sales were $5,000,000 three years ago. Since that time sales have grown at annual rates of 10 percent, 10 percent, and
Suppose that a company's sales were $5,000,000 three years ago. Since that time sales have grown at annual rates of 10 percent, 10 percent, and 25 percent.
(a) | Find the geometric mean growth rate of sales over this three-year period. (Round your answer to 2 decimal places. Omit the "%" sign in your response.) |
Rg | % |
(b) | Find the ending value of sales after this three-year period. (Do not round intermediate calculations and round your final answer to nearest dollar amount. Omit the "$" sign in your response.) |
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