Hello Sir/ Mam
YOUR REQUIRED ANSWER IS 14.87%
Given that:
Sales in 2010 = $5.5m
Sales in 2015 = $11m
I hope this solves your doubt.
Feel free to comment if you still have any query or need something else. I'll help asap.
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eBook Problem 5-11 Growth rates Sawyer Corporation's 2015 sales were $11 million. Its 2010 sales were...
GROWTH RATES Sawyer Corporation's 2015 sales were $5 million. Its 2010 sales were $2.5 million. At what rate have sales been growing? Round your answer to two decimal places. % 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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