Cullumber Company is a private company with sales of $1,100,000 a year. Management wants to take the company public but has to wait until the sales reach $2,000,000. If sales are expected to grow 15 percent annually, when is the earliest that Cullumber will go public? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 1 decimal place, e.g. 5.4.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you’ve been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.)
Cullumber Company is a private company with sales of $1,100,000 a year. Management wants to take the company public but has to wait until the sales reach $2,000,000. If sales are expected to grow 15 percent annually, when is the earliest that Cullumber will go public? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 1 decimal place, e.g. 5.4.)
Excel Template
(Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you’ve been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.)
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