[See Solution] Over a period of five years, a firm's sales increased from $1.2 million to $4.7 million. What is the firm's average annual linear rate of


Question: Over a period of five years, a firm's sales increased from $1.2 million to $4.7 million. What is the firm's average annual linear rate of growth?

  1. $7 million
  2. $3.5 million
  3. $700,000
  4. None of the above is correct.

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