Problemyou are the financial manager of wal-mart who will, Ask an Expert

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Problem:

You are the financial manager of Wal-Mart who will submit a report on this year's (2013) financial transactions to the company's CFO Charles Holley. You want to verify that the following estimates prepared by your staff are correct.

The CFO likes to know the annual growth rate in sales for five high-volume stores in Dallas over the last five years, from 2008 to 2012. Total annual sales in these five stores were $150 million in 2008 and $195 million in 2012. What is the growth rate in sales?
Staff Estimate: 8.5% (please verify)

Additional Information:

This question is basically belongs to Finance as well as it is about a condition of Wal-Mart has been given. The financial manager of Wal-Mart has to submit a report upon the year's financial transaction of the company. The raise in growth of sales in high volume stores of Wal-Mart between 2008 and 2012 has been given.

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