Suppose that a company's sales were $1,000,000 6 years ago and are $9,000,000 at the end of the 6 years. Find the geometric mean growth rate of sales. (Round your answer to 4 decimal places.)

The geometric mean growth rate of sales is 1.4422.

Step-by-step explanation:

We have two sales values, one from 6 years ago and the other from now.

We have to calculate the geometric growth rate of sales.

We have:

We can write the relation between these two values as:

The geometric mean growth rate of sales is 1.4422.

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