Corporation's 2018 sales were $5 million. Its 2013 sales were $2.5 million. At what rate have sales

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Corporation's 2018 sales were $5 million. Its 2013 sales were $2.5 million.

At what rate have sales been growing?

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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Fundamentals Of Financial Management

ISBN: 9781337902571

Concise 10th Edition

Authors: Eugene F. Brigham, Joel F. Houston

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Question Posted: May 27, 2022 03:40 AM

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Corporation's 2018 sales were $5 million. Its 2013 sales were $2.5 million. At what rate have sales

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Fundamentals Of Financial Management

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