Question

19. At a boardroom meeting, the sales manager is happy to announce that sales have risen from $850,000 to $1,750,000 at a

Answer 1

The number of years it would take sales to reach $1,750,000 is 14.65 years.

What is the number of years?

The formula that can be used to determine the number of years it would take for the sales to reach $1,750,000 is:

Number of years : In (FV / PV) / r

Where:

• FV = future level of sales -  $1,750,000
• PV = present level of sales = 850,000
• r = rate of growth -  4.931998%

Number of years : In ($1,750,000 / 850,000) / 0.04931998

Number of years : In (2.06) / 0.04931998

Number of years : 14.65 years

To learn more about how to determine the number of years, please check: brainly.com/question/21841217

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