a.
Sales Growth Rate = (7/3.5)1/5 - 11
Sales Growth Rate = 14.87%
b.
This logic ignores the effect of compounding in the time period.
Growth Rates Sales for Hanebury Corporation's just-ended year were $7 million Sales were $3.5 million 5...
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eBook Problem 5-11 Growth rates Sawyer Corporation's 2015 sales were $11 million. Its 2010 sales were $5.5 million. a. At what rate have sales been growing? Round your answer to two decimal places.
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