Growth rates-at what rate have sales been growing

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Growth rates

Sawyer Corporation's 2015 sales were $14 million. Its 2010 sales were $7 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 the statement correct?

Reference no: EM131448542

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