FIN 201- Growth rates
Progress ratesShalit Company's 2011 gross sales had been $6 million. Its 2006 gross sales had been $three million.At what fee have gross sales been rising? Spherical your reply to 2 decimal locations. %Suppose somebody made this assertion: "Gross sales doubled in 5 years. This represents a progress of 100% in 5 years, so, dividing 100% by 5, we discover the expansion fee to be 20% per yr." Is that assertion appropriate?