In 1975, the era of major league baseball free agency began. The ...

[leo leo]

In 1975, the era of major league baseball free agency began. The average player salary was 16,000. In 1980, the average salary was 30,000. What was the average annual growth in the minimum salary in major league baseball over those five years?
 
  A) 37.50
  B) 13.40
  C) 5.92
  D) 10.67

Question 2

The percent-of-sales method of developing a pro forma income statement forecasts sales and other line items as a ________.
 
  A) percentage of projected sales
  B) percentage of average sales over a period
  C) percentage of projected total assets
  D) percentage of average total assets over a period

[janieazgirl]

Answer to Question 1

Answer: B
Explanation: B) r = (FV/PV)1/n - 1 = (30,000/16,000)1/5 = 13.40
MODE = END
INPUT 5 ? -16,000 0 30,000
KEY N I/Y PV PMT FV
CPT 13.40

Answer to Question 2

A

[leo leo]

Thank you

[janieazgirl]

No problemo