Suppose that a company's annual sales were $1,200,000 in 1999. the annual growth rate of sales from 1999 to 2000 was 16 percent, from 2000 to 2001 it was −5 percent, and from 2001 to 2002 it was 22 percent.
the geometric mean growth rate of sales over this three-year period is calculated as 10.37 percent. use the geometric mean growth rate and determine the forecasted sales for 2004.

Step-by-step explanation:

A = P (1 + r)^t

Given that P = $1,200,000, r = 0.1037, and t = 5:

A = $1,200,000 (1 + 0.1037)^5

A = $1,965,334.41

Round as needed.

for ex: the reciprocal of 3/4 is 4/3. it is the opposite.

reciprocal definition:

a mathematical expression or function so related to another that their product is one; the quantity obtained by dividing the number one by a given quantity.

6 spoons of sugar for every 21 cups of flour

step-by-step explanation: