1 answer

Oriole, Inc., had sales last year of $565,000, and the analysts are predicting strong future performance...

Question:

Oriole, Inc., had sales last year of $565,000, and the analysts are predicting strong future performance for the start-up, with sales growing 15 percent a year for the next three years. After that, the sales should grow 11 percent per year for two years, at which time the owners are planning to sell the company. What are the projected sales for the last year before the sale? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)

Projected sales in fifth year $

Answers

Projected Sales in 5th year = 565,000(1.15)³(1.11)²

Projected Sales = $1,058,736.60

.

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