Currently, Avalene Corporation's sales are $500 millionIf sales grow at 11% per year, how large (in...

Currently, Avalene Corporation's sales are $500 millionIf sales grow at 11% per year, how large (in millions) will they be 8 years later?

Expert Solution

This is a CAGR problem.

Final value of sales after 8 years = Initial value*(1+growth rate)^years

=500*(1+11%)^8

=$ 1152.269 million

jeff jeffy answered 2 years ago

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