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16 August, 05:13

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? a. $845.03b. $889.51c. $936.33d. $983.14e. $1,032.30

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  1. 16 August, 05:32
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    The correct answer is C.

    Explanation:

    Giving the following information:

    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?

    We need to use the following formula:

    FV = PV * (1+i) ^n

    FV = 525 * (1+0.075) ^8

    FV = $936.33
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Home » Business » 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? a. $845.03b. $889.51c. $936.33d. $983.14e. $1,032.30
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