Cochrane Associate's net sales last year were $525 million.If sales grow at 7.5% per year, how large (in millions) will they be 8 years later?

Name: Cochrane Associate's net sales last year were $525 million.If sales grow at 7.5% per year, how large (in millions) will they be 8 years later?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To find the future sales, use the formula for compound growth: Future Sales = Present Sales * (1 + growth rate)^number of years. Here, Future Sales = $525 million * (1 + 0.075)^8 = $936.33 million.

Cochrane Associate's Net Sales Last Year Were $525 Million