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Math Help - Calculating growth rate for sales

  1. #1
    Newbie
    Joined
    Oct 2008
    Posts
    4

    Calculating growth rate for sales

    Hi,

    I am trying to figure out the growth in sales for a company over the following years. I thought it would be best to use GMR but I'm not sure if I did it right. Also, is GMR really the best way to calculate the growth?


    Year.....Sales (IN MILL.)
    2008.....$1,379
    2007.....$1,038
    2006.....$946
    2005.....$848
    2004.....$914
    2003.....$870
    2002.....$838
    2001.....$1,223
    2000.....$1,330
    1999.....$1059

    I came up with 2.67%.

    I did it in excel so it's hard to explain here... but the formula I used it [(1+Rt)(1+Rt-1)...(1+Rt-9)]^(1/10) - 1

    Thank you!
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  2. #2
    Senior Member
    Joined
    Apr 2009
    From
    Atlanta, GA
    Posts
    408
    If you're looking for A=Pr^t, then 1379=1059r^9, giving you 2.98%
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