what % would you need to increase your division’s Year 2 revenue to reach $3 million in Year 3?

Question

By what percent would you need to increase your division’s Year 2 revenue to reach $3 million in Year 3?

Answer 1

?????????????????? wotz the start $ ???????????? maebee=1 miyun $ ????

????????? wot kompounding ?????? 1 per yeer ???????

??????????? revenue ???????? yu meen the $ yu take in ????????

if yu wanna up sumthun from 1 tu 5 in 3 yeers, assuming yeer kompound, then...

(1+x)^3=5

log[(1+x)^3]=log(5)

3*log(1+x)=log(5)

log(1+x)=log(5)/3=0.6989700043360224/3=0.2329900014453408

so, 1+x=10^0.2329900014453408

=1.7099759466767017

thus, 70.997594667%