Suppose That a Company's Annual Sales Were $1,200,000 in 1999

Multiple Choice

Suppose that a company's annual sales were $1,200,000 in 1999. The annual growth rate of sales from 1999 to 2000 was 16 percent, from 2000 to 2001 it was −5 percent, and from 2001 to 2002 it was 22 percent. What is the geometric mean growth rate of sales over this three-year period?

A) 7.68%
B) 9.27%
C) 10.37%
D) 11.00%
E) 14.33%