Paub4baDoubl Paub4baDoubl
  • 09-03-2017
  • Business
contestada

If a company sales are growing at a rate of 20% annually, how long it will take sales to double?

Respuesta :

kylepillow13
kylepillow13 kylepillow13
  • 09-03-2017
Use this equation: FVN= $2 = $1(1 + I)N= $1(1.20)N    (With any dollar amount)

The exact answer is 3.8 years, but some calculators will round this value up to the next highest whole number, so maybe 4 years. 
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