If a company sales are growing at a rate of 20% annually, how long it will take sales to double?

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asked Mar 9, 2018 183k views

1 Answer

Francisco Gomes · Answer 1 · 2018-03-13T13:53:58+0000

Use this equation: FVN= $2 = $1(1 + I)N= $1(1.20)N (With any dollar amount)

The exact answer is 3.8 years, but some calculators will round this value up to the next highest whole number, so maybe 4 years.

If a company sales are growing at a rate of 20% annually, how long it will take sales to double?

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