Time to Attain Goal: Elegant Designers Have Generated Sales of $625,000

question 69

Multiple Choice

Time to attain goal: Elegant Designers have generated sales of $625,000 for the current year. If they can grow their sales at a rate of 12 percent every year, how long will they take to triple their sales? (Round off to the nearest year.)

• A) 8 years
• B) 7 years
• C) 10 years
• D) 9 years

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Definitions:

Mathematical Techniques

Methods or procedures derived from mathematical principles used to solve problems or analyze data.

Human Resource

The department within an organization that deals with the recruitment, management, and development of employees.

Inventory Analysis

The examination and evaluation of stock to ensure efficient management and optimization of resources.

Quantitative Approach

A research approach centered on measuring and statistically analyzing data collection and interpretation.