Bovic Inc. is a growing company with sales of $1.25 million this year. The company expects to grow at an annual rate of 25 percent for the next three years, followed by a growth of 20 percent per year for the next two years. What will be Bovic's sales at the end of five years? (Round to the nearest percent.)

Question

Quizplus · Accepted Answer

Bovic's sales will grow to $1.25 million * (1.25)^3 * (1.20)^2 = $3,515,625 at the end of five years.

Bovic Inc Is a Growing Company with Sales of $1