Last year dania corporation's sales were $525 million. if sales grow at 7.5% per year, how large (in millions) will they be 8 years later? a. $845.03b. $889.51c. $936.33d. $983.14e. $1,032.30

The correct answer is C. If sales grow at 7.5% per year, Dania Corporation's sales would be $936.33 million eight years later.

Explanation:

If last year Dania Corporation's sales were $525 million, we can say that last year was year 0.

So, in year 0 there were $525 million in sales.

As sales grow at 7.5% per year, in year 1 there would be $564.37 million, as 525 x 1.075 is 564.375.

So, in year 2 there would be $606.7 million, as we do the same multiplication (last year's sales multiplied by 1.075).

In year 3 there would be $652.2 million, in year 4 there would be $701.12 million, in year 5 $753.7 million, in year 6 there would be $810.23 million, in year 7 there would be $871 million, and finally in year 8 there would be $936.33 million dollars, always doing the same multiplication.

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