Answer:
China Manufacturing Agents, Inc. is preparing a five-year plan. Today, sales are $1,000,000. If the growth rate in sales is projected to be 10 percent over the next five years, what will the dollar amount of sales be in year five?
$500,000 in five years
Explanation:
China Manufacturing Agents Inc. will make sales at the end of five years at a growth rate 10 percent amounting to $1,610,510.
Sales growth rate measures the rate at which an entity is able to increase revenue from sales over a period of time.
In the given information,
Total sales amount is $1,000,000
Time/term is 5 years
Growth rate in sales (g) is 10%
[tex]\rm\,Sales\, Amount\,in\5\,Years = SO\times (1 + g)^{t} \\\\rm\,Sales\, Amount\,in\5\,Years = 1,000,000\times (1 + 0.10)^{5} \\\\\rm\,Sales\, Amount\,in\5\,Years = 1,000,000 \times 1.61051\\\\\rm\,Sales\, Amount\,in\5\,Years = \$ 1,610,510[/tex]
Hence, China Manufacturing Agents Inc. will make sales at the end of five years at a growth rate 10% amounting to $1,610,510.
To learn more about the growth rate in sales, refer to the link:
https://brainly.in/question/18579705
