Compound Annual Growth RateA Complete, Neat and Step-by-step
In the first year, Bubba's Pork Rind factory sold $ 100,000. A mere 13 years later, Bubba sold $ 475,000. What is the compound growth rate? If Bubba's sales growth continued unabated, what would Bubba's sales be after the next 13 years?
If, in the above, the initial period had been 10 years, what would the compound growth rate have been then? What would you expect the sales to be after 16 more years?