Shalit Corporation's 2011 sales were $12 million. Its 2006 sales were $6 million. a. At what rate
Question:
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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a With a calculator enter N 5 PV 6 PMT 0 FV 12 and then solve for IYR 1487 b The calcul...View the full answer
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Related Book For 
Fundamentals of Financial Management
ISBN: 978-1133541141
13th edition
Authors: Eugene F. Brigham, Joel F. Houston
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