
Help!!!!!!
Mintel's forecast for the premium chocolate market shows growth of 73 percent in current terms and 53 percent in constant terms over the next 5 years. Total premium chocolate sales in the U.S. are forecasted to reach $3,554 million by 2011.[1]
Based on these current and constant growth % terms, I need a total for the year 2008. A total in current terms and a separate total in constant terms is fine—I just need the % adjusted from the 5 year span backwards from 2011 to 2008. (And I have no idea how to do this)

Quote:
Originally Posted by
chckn440 Mintel's forecast for the premium chocolate market shows growth of 73 percent in current terms and 53 percent in constant terms over the next 5 years. Total premium chocolate sales in the U.S. are forecasted to reach $3,554 million by 2011.[1] Based on these current and constant growth % terms, I need a total for the year 2008. A total in current terms and a separate total in constant terms is fine—I just need the % adjusted from the 5 year span backwards from 2011 to 2008. (And I have no idea how to do this)
Assuming that the 2011 sales are in 2011 $'s and that the 73% growth is in current $ values, then if current sales are x millions of 2008 $'s we have:
3554=x(1+75/100)
so:
x=3554/1.75 millions of $'s
To get the current sales in 2011 $'s do the same calculation (now x is current sales in 2011 $'s) except we replace the 75 by 53.
CB