. If sales in 2015 were $15 million and sales in 2018 were $21 million then...
. If sales in 2015 were $15 million and sales in 2018 were $21 million then what must be the rate of growth if sales are continuously compounded?
Homework Answers
The formula for continuous compounding:
Where, A = Future value = $21 million
P = Present value = $15 million
r = rate of growth
t = time or years = 2018-2015 = 3 years
Therefore r = 11.21%
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