Madison is taking over as Chief Marketing Officer at MidWest Graphics. She has pledged to increase sales from their current level of $12,000,000 at a rate of 10% per year until the firm hits sales of $20,000,000 per year
How long will it take Madison to hit the target goal at this rate of increase?
A) 7.67 years
B) 1.53 years
C) 5.36 years
D) At that rate, Madison will never reach the target sales level in her lifetime.
Answer: C
Explanation: C) n = = = 5.36 years
MODE = END
INPUT ? 10 -12,000,000 0 20,000,000
KEY N I/Y PV PMT FV
CPT 5.36
You might also like to view...
Which of the following practices might be unethical?
A) the use of secondary data alone when the research requires primary data collection B) the client is billed a fixed fee for the project C) the unnecessary collection of expensive primary data when the research problem can be addressed based on secondary sources alone D) Both A and C are correct.
How does the “Ethical Climate” survey differ from the other two most popular ethical culture surveys/measures?
a. It focuses on the behavior of lower and middle managers instead of upper management. b. It does not primarily focus on the behavior of managers. c. It is the shortest of the three measures. d. It does not measure awareness of the organization’s ethics code.
On its website, Otrex, Inc claimed that its pain reliever was more effective than Nelton, a competing pain reliever. Discuss the elements that Nelton must prove to win a case against Otrex under the Lanham Act
Jeffrey, floor supervisor at Brooks & Sons Warehouse and Storage, has asked Vera, a specialist in the human resources department, to help him fill an open position for a floor worker. Vera asks Jeffrey to describe what is needed to perform the job. Jeffrey replies, "A high-school education; an ability to lift a 50-lb box to a height of 6 feet; an ability to work on one's feet for an 8-hour shift; and an ability to get to work on time." "Fine. I will include these job requirements in the ________," Vera says.
A. personality tests B. job application C. job specification D. demand forecast E. labor forecast