Fundamentals of Financial Manageme...
Solutions
Fundamentals of Financial Manageme...
GROWTH RATES Shalit Corporation’s 2014 sales were $12 million. Its 2009 sales were $6 million.
- a. At what rate have sales been growing?
- 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?
a.
To Determine: The level at which the sales was growing.
Introduction: Growth rates allude to the rate change of a particular variable inside a particular day and age and given a specific setting. For the investors, growth rates normally speak to the aggravated annualized growth rate of an organization's incomes, profit etc.
Determine the level at which the sales was growing
Using a excel spreadsheet and excel function =RATE, the level at which the sales was growing is determined as 14.87%.
Excel Spreadsheet:
b.
To Determine: Whether the statement is correct if the growth rate is 20% per year.
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