Question: to. Minbox h 05: End-of-Chapter Problems - Time Value of Money Q Search this Back to Assignment Attempts: Keep the Highest: 12 5. Problem 5.11

to. Minbox h 05: End-of-Chapter Problems - Time Value of Money Q Search this Back to Assignment Attempts: Keep the Highest: 12 5. Problem 5.11 (Growth Rates) eBook Sawyer Corporation's 2018 sales were $9 million. Its 2013 sales were $4.5 million a. At what rate have sales been growing? Round your answer to two decimal places. 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? -Select- Grade i New Save & Continue Continue without saving

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