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EastWind [94]
3 years ago
13

Last year Dania Corporation's sales were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be 8 ye

ars later?
Business
1 answer:
Kipish [7]3 years ago
6 0

Answer:

$936.33 Million

Explanation:

Current sales = $525 millions

Growth rate = 7.5%

Number of years = 10 years

Sales after 8 year = Current sales x (1+g)^{n}

Sales after 8 year = $ 525 million x (1+7.5/100)^{8}

Sales after 8 year = $ 525 million x (1+0.075)^{8}

Sales after 8 year = $ 525 million x (1.075)^{8}

Sales after 8 year = $ 525 million x 1.783477826

Sales after 8 year = $ 936.33 million

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