Question

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.

Answer 1

Hello Sir/ Mam

YOUR REQUIRED ANSWER IS 14.87%

Given that:

Sales in 2010 = $5.5m

Sales in 2015 = $11m

$g=\sqrt[5]{1+\frac{11-5.5}{5.5}}-1=\sqrt[5]{2}-1=1.1487 -1=14.87\%$

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