Growth ratesshalit corporations 2011 sales were 5 million, Ask an Expert

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Growth rates

Shalit Corporation's 2011 sales were $5 million. Its 2006 sales were $2.5 million.

At what rate have sales been growing? Round your answer to two decimal places.

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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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91377315

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