Sawyer Corporation's 2015 sales were $5 million. Its 2010 sales were $2.5 million. a. At what rate

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Sawyer Corporation's 2015 sales were $5 million. Its 2010 sales were $2.5 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 the statement correct?

Related Book For answer-question

Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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Posted Date: Feb 20, 2022 12:49 PM

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Sawyer Corporation's 2015 sales were $5 million. Its 2010 sales were $2.5 million. a. At what rate

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a Annual average growth rate ... View the full answer

Microeconomics

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