Shalit Corporations 2008 sales were $12 million. Its 2003 sales were $6 million. a. At what rate

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Shalit Corporation’s 2008 sales were $12 million. Its 2003 sales were $6 million.

a. At what rate have sales been growing?

b. 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 that statement correct?

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Fundamentals of Financial Management

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Question Posted: Oct 05, 2011 09:49 AM

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Shalit Corporations 2008 sales were $12 million. Its 2003 sales were $6 million. a. At what rate

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