Question

Cyberhost Corporation's sales were $225 million last year. If sales grow at 6% per year, how large (in millions) will they be 5 years later

Answer 1

$301.10 MILLION

Step-by-step explanation:

the formula for determine the future value of sales =

P (1 +r)^n

P = Present value = $225 million

R = interest rate = 6%

N = number of years = 5

$225 million(1.06)^5 = $301.10 MILLION